🌍 Actis has acquired a 100% stake in Argo Energy, a South Korean renewables platform, with a commitment to invest up to $100 million.
🌞 Argo Energy specializes in the development of small utility-scale and rooftop solar projects. The company is currently operating or developing a 110 MW portfolio, with plans to expand to over 400 MW in the next few years.
🔌 The platform is poised to benefit from South Korea's evolving power market, including the introduction of direct and corporate PPAs, as well as policy support for challenges faced by large-scale projects. The country aims to significantly expand its installed renewable capacity, which stood at 27 GW in 2022, to 73 GW by 2030 and 108 GW by 2036.
🌏 This acquisition marks Actis' entry into South Korea's renewable energy market, complementing its recent investments in Southeast Asia, including Nozomi Energy (Japan), Bluepine Energy (India), and Levanta Renewables (Vietnam).