New Delhi, Aug. 19 -- Actis LLP, a London-based private equity firm, is exploring a sale of BluPine Energy at a valuation of $1.5-2 billion, and the Gurugram-based renewables platform has already attracted a crowded field of potential buyers.

KKR & Co., NIIF and Blackstone are evaluating the business, while ISquared Capital, Inox Clean Energy, Macquarie, RPSG Group, Torrent Power and Apraava Energy are also in the mix, according to people familiar with the matter. Binding bids are due in the next 10-12 days.

Actis launched BluPine Energy in 2022 with plans to build 4 GW of utility-scale solar, wind and storage projects across India. It has since expanded its portfolio and built a growing commercial and industrial renewable energy busine...