Virescent Infrastructure, a renewable energy platform sponsored by private equity major KKR has set up the first renewable energy (RE) infrastructure investment trust (InvIT) in India, called Virescent Renewable Energy Trust (VRET). …
VRET has raised Rs 4.6 billionfrom a group of foreign and domestic investors. Leading the transaction, is Alberta Investment Management Corporation, one of Canada’s largest institutional investment managers. KKR set up Virescent in October 2020 to acquire operating renewable energy assets in India. Its initial portfolio consists of nine operational solar projects, with an aggregated capacity of about 395 MWp, located in Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat and Rajasthan. VRET is also in advanced discussions to acquire 55 MWp portfolio from Focal Energy.