Actis commits $230 mn to build Indian renewable energy platform.

Actis Capital, the global private equity firm, is committing $230 million to create an Indian renewable energy platform under the name of Ostro Energy. Actis has hired Ranjit Gupta as chief executive officer (CEO) of the platform.

Ostro Energy's first project,Tejuva, a 50.4 MW wind project, is under construction in the Jaisalmer district of Rajasthan. On completion, the platform aims to provide 800 MW of energy across several Indian states by 2019, Actis said. Developed by wind turbine supplier Suzlon Energy, the site has been in development for more than four years. The project has achieved financial closure and is expected to achieve completion by mid-2015.

BS