Actis Acquires Stride’s 371 MW Solar Portfolio in India

Actis has acquired a 100 percent stake in Stride Climate Investments, a 371 MW solar asset portfolio in India, from a Macquarie-managed fund, strengthening its renewable energy presence in the country.

March 25, 2025. By Mrinmoy Dey

Sustainable infrastructure investor Actis has acquired a 100 percent stake in Stride Climate Investments, a solar generation asset portfolio in India, from a fund managed by Macquarie Asset Management.

Through this deal, Actis gains control of Stride’s 371 MW (414 MWp) portfolio of operating solar PV assets spread across 21 projects in 7 states, the majority of which are concentrated in Gujarat.

The Stride portfolio, which has close to a decade of demonstrated track record, features long-term pay-as-produce power purchase agreements with a diversified pool of off-takers, from central and state governments as well as the private sector, and a distributed asset base.

Actis has deployed more than USD 7.1 billion in Asia since inception across different strategies and, as a leading energy investor, has built or operated more than 8 GW of installed capacity in the region, including more than 5.5 GW of renewables.

With this acquisition, Stride joins BluPine Energy and Athena Renewables to become Actis’ third current energy generation platform in India.

Commenting on the development, Adrian Mucalov, Partner, Head of Long Life Infrastructure at Actis, said, “The acquisition of Stride aligns nicely with Actis’ long life infrastructure investment approach. The business has a 10-year operating history, compelling cash generation and low existing leverage. We believe Stride offers strong prospects to deliver cash yields to investors while also being in a dynamic, rapidly growing market.”

Abhishek Bansal, Partner, Energy Infrastructure at Actis, commented, “Actis has a long experience of successful investment in the Indian renewable energy sector, exemplified by Ostro Energy and Sprng Energy previously as well as by our current renewables platforms. The Indian economy is continuing to grow rapidly and its energy transition is accelerating at pace, with the government aiming to secure 50 percent of the country’s electricity from renewables by 2030. This environment is therefore creating ample opportunities, especially for an investor such as Actis with expertise in driving efficiency and creating value in this market.”

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Solar PV

Actis

Stride Climate Investments

Adrian Mucalov

Abhishek Bansal

Acquisition

Stride solar projects