Actis launches Bridgin Power for gas-based power generation business

Global investor in sustainable infrastructure Actis on Wednesday announced the launch of Bridgin Power, a power generation business that will pursue gas-fired power projects with a target of 1.2 GW by 2028.

Bridgin Power will pursue gas-fired power projects and focus on delivering an equitable energy transition in Southeast Asia where power demand is constantly on the rise,'' Actis said in a statement.

Bridgin Power is targeting a total portfolio capacity of 1.2 GW across the region by 2028.

Led by a management team based in Singapore with over 100 years’ combined experience in the energy and power sector, Bridgin Power will apply a values-led approach, embedding sustainability in all decision making. Target geographies include Vietnam, Indonesia, Thailand, the Philippines, Malaysia, Bangladesh and Sri Lanka, it stated.

Bridgin recently closed its first investment by acquiring a 49 per cent shareholding in a 220MW Combined Cycle Gas Turbine power plant in the Bhola region of Bangladesh. Bridgin acquired this stake from India’s Shapoorji Pallonji group.

Sanjiv Aggarwal, Partner, Energy Infrastructure at Actis said, ''We are excited to be launching a business spanning Southeast Asia, a region which has increasing power demands and where we can leverage Actis’ proven strategy of aggregating energy assets into a scalable regional platform which enables a just and equitable Energy Transition. ''We believe natural gas is an essential fuel for the medium term offering flexible low emission power as the region gradually transitions to more green energy sources. Bridgin Power’s investment in Bhola power project in Bangladesh is a step in that direction. Investing from our USD six billion Actis Energy 5 Fund, in partnership with Bridgin’s management team, we aim to deliver up to 1.2GW of power capacity by 2028.'' The Actis Energy Infrastructure team invests on a global scale in buy and build power generation and distribution businesses.