WiseEnergy Signs 550 MW Solar Asset Management Contract in India
The Company will provide Asset Management Services for Actis’ new acquisitions in the country.
London, 03 September 2020 – WiseEnergy is pleased to announce a partnership with Actis, one of the largest and most prestigious investors in renewable energy growth markets.
WiseEnergy has signed a multi-year contract to provide comprehensive Asset Management Services for a 550 MWp (400 MW AC) solar portfolio in India that Actis Long Life Infrastructure Fund (ALLIF) has recently acquired.
“This agreement represents a major milestone for WiseEnergy” – says Rebecca Carter, WiseEnergy’s Managing Director – “not only does it increase our presence in India, one of our key growth markets, it also establishes our partnership with Actis. We are honoured that Actis chose WiseEnergy to manage its newly acquired solar plants in India and are excited about the growth possibilities this brings for both parties in the future.”
“Beginning from July 2020” – adds Pratik Ghoshal, Global Head of Business Development – “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 11 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.”
Underlying WiseEnergy’s track record of market-leading performance are its superior systems and processes, which are enabled by a proprietary asset management software platform, and know-how developed from managing over 1,500 solar plants, totaling 2.2 GW, across four different continents.