KKR launches its India renewable energy platform Virescent Infrastructure
NEW DELHI: Private equity firm KKR has announced the launch of its renewable energy platform–Virescent Infrastructure–to acquire green energy assets in India.
India’s green economy has attracted a bevy of investors ranging from private equity funds, pension funds, strategic players among others. Earlier this year, European alternative asset manager EQT and Singapore’s state investment firm Temasek Holdings Pte. jointly set up O2 Power, a $500-million renewable energy platform in India.
This development comes in the backdrop of KKR making its foray in India’s green energy space. Virescent has 317 megawatt (MW) solar projects in Maharashtra and Tamil Nadu. KKR was earlier engaged in acquiring green energy producer Mytrah Energy India Pvt. Ltd, but the proposed $750-million deal fell through.
