Virescent floats first solar InvIT, places 400 Mw assets under pvt trust

InvIT to hold nine solar energy projects of 400 MWp in five states; definitive agreements signed for 76 MWp

KKR backed Virescent Infrastructure has floated the first infrastructure investment trust (InvIT) in the green power space. It will be a private Invit for which they have sought the approval for the Securities Exchange of India.

It is in the process of acquiring a portfolio of operational solar assets of close to 76 MWp at different locations including Patan (Gujarat), Jodhpur (Rajasthan) and Mohaba (Uttar Pradesh). The power purchase agreements (PPAs) for these assets are with state-owned counterparties. These assets would be vested in the InvIT.  

The InvIT aims to achieve approximately 1.5 GW of assets in the next two