Global PE major KKR sells RE InvIT Virescent to IndiGrid for Rs 4,000 cr
Global private equity firm KKR has sold the country’s first and only renewable energy (RE) Infrastructure Investment Trust (InvIT), Virescent Renewable Energy Trust (VRET) to India Grid Trust (IndiGrid). The deal size is estimated to be Rs 4,000 crore, said sources.
In an announcement on Friday, VRET said it signed definitive agreements with BSE-listed IndiGrid, country’s first and largest power transmission InvIT, to buy all units of VRET along with its investment and project managers.
Neither VRET or IndiGrid disclosed the size of the transaction. VRET has a portfolio of 16 operating solar projects totaling 538 megawatt (Mw) capacity with an asset under management of Rs 4,121 crore as of March 31.
