Actis LLP is set to sell Sprng Energy Private Limited for an enterprise valuation of $2.5-$2.75 billion, multiple people aware of the matter said. The emerging market focused private equity fund has hired Bank of America (BoA) to run a formal process to find a buyer. Feelers have been sent to Canadian funds including Brookfield Asset Management Inc. (TSX:BAM.A) and Canada Pension Plan Investment Board (CPPIB) as well as Adani Enterprises Limited (BSE:512599) for the buyout.

“As a part of the company's business growth strategy, we continue to evaluate various viable options. The company, however, doesn't comment on speculations,” said an Adani Green spokesperson, while spokespersons with Brookfield and CPPIB declined comment.