UK-based WiseEnergy has announced the signing of a multi-year contract to provide comprehensive asset management services for global investor Actis’ 550 MWp (400 MW AC) solar portfolio in India.
The solar portfolio comprises plants in Madhya Pradesh and Andhra Pradesh that Actis Long Life Infrastructure Fund (ALLIF) acquired from Acme Solar recently.
WiseEnergy managing director Rebecca Carter said: “This agreement represents a major milestone for WiseEnergy. Not only does it increase our presence in India, one of our key growth markets, it also establishes our partnership with Actis.”
Pratik Ghoshal, Global Head of Business Development, added, “Beginning from July 2020 WiseEnergy will provide end-to-end asset management services, including financial, commercial and technical management, for two projects (four plants in total) located in the states of Madhya Pradesh and Andhra Pradesh.
“Actis will benefit from WiseEnergy’s eleven years of specialised asset management experience, subject matter expertise and industry best practices without having to bear high internal fixed costs and inflexibility that often hinder AUM growth.”
Founded in 2008, WiseEnergy is part of the NextEnergy Capital Group. Today, it works in Europe, Africa, Asia, and America, providing value-added services to over 1,500 plants for an overall capacity of 2.2 GW.
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