Actis Renewable Energy Sale Attracts Major Indian Investors

Mumbai — Several prominent investors have submitted firm offers to buy Athena Renewable Energy, a clean energy platform in India owned by UK-based private equity firm Actis, industry sources said. Bidders include SEIT — an energy investment trust led by Mahindra Susten, IndiGrid backed by global investor KKR, and Anzen InvIT supported by Sekura Energy and Edelweiss.

These parties have completed detailed reviews of Athena’s business and put forward binding proposals, people with knowledge of the process said. Early indications suggest the enterprise could be valued in the range of ₹2,300 crore to ₹2,500 crore. Athena operates roughly 550 MW of renewable energy assets, selling all power through long-term contracts to government utilities and distribution companies, providing stable cash flows.

Actis, which acquired Athena in 2020 as a solar portfolio investment, engaged Kotak Mahindra Capital to run the sale process and reached out to select strategic buyers earlier in the year. The interest from multiple infrastructure investment trusts reflects strong demand for established renewable energy projects in India’s expanding clean power market.