GIP looks at Vector Green InvIT to raise $100 million
US-based Global Infrastructure Partners (GIP) is exploring an infrastructure investment trust (InvIT) for its Indian green energy platform, Vector Green Energy, to raise around $100 million in equity, two people aware of the development said.
InvITs are trusts that manage income-generating infrastructure assets typically offering investors a regular yield and a liquid method of investing in infrastructure projects.
Renewable energy InvIT plans have been gaining traction in the backdrop of India’s galloping electricity demand. These include InvITs from KKR-backed Virescent Infrastructure and Tata Power’s renewable energy InvIT in which Malaysia’s state-run oil and gas company, Petroliam Nasional Bhd, or Petronas is looking to invest.
