Fatih Birol - Turkish Economist
Sprng Energy is a renewable energy platform set up in India by Actis – a private equity fund manager that invests exclusively in the world’s growth markets, with a total commitment of US$450mn of equity from Actis Energy Fund 4 to set up c.2.5GW (1.4% of 175 GW of target set up by Ministry of New and Renewable Energy, Government of India) of renewable energy capacity (solar and wind) by 2020. In Feb 2017, Solenergi – a 100% Mauritius based holding company of Sprng Energy Private Limited participated in the Rewa solar park auction and won its first 250MW project which is under execution. In the fall of 2017, Sprng energy won a 197.5 MW Wind Power Project under GUVNL Phase 1 tender at a record low tariff of INR 2.43/kWh which is the lowest tariff level realized under bidding regime in wind and solar industry in the country. In April 2018, we won two back to back projects under our belt, with one 300 MW Wind Power Project under SECI –Tranche IV and another 250 MW solar project under the NTPC Anantapur tender. Another 250 MW solar project came under our kitty in June’2018 which we won in SECI Kadapa Solar auction. We further have acquired 194 MW operating solar assets and bagged another 120 MW solar project in Mar’21. Till date, we have 1064 MW (AC) solar projects and 497.5 MW of wind power projects & out of which 425.5 MW wind and 694 MW solar is already operational.
To build a best-in-class Clean Energy platform which delivers superior stakeholder value in a sustainable and ethical manner while simultaneously scaling new benchmarks of Environmental Social Governance