IndiGrid completes acquisition of 16 solar projects of VRET

IndiGrid completed acquisition of Virescent Renewable Energy Trust (VRET) having a portfolio of 16 solar projects at an enterprise value of Rs 40 billion.

A total of 16 solar projects with a capacity of 538 MWp will be added to the IndiGrid portfolio following the acquisition. Such addition of the solar projects to the existing IndiGrid portfolio will result in IndiGrid’s assets under management (AUM) being approximately Rs 270 billion and overall solar capacity to 676 MWp comprising approximately 17 per cent of its AUM. These projects are located across Gujarat, Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Maharashtra, Punjab and Rajasthan.