KKR launches renewable energy platform tn India
Global investment firm KKR today announced the launch of Virescent Infrastructure, a newly created platform to acquire renewable energy assets in India.
Image source: T&D India
India, Mumbai: Global investment firm KKR today announced the launch of Virescent Infrastructure, a newly created platform to acquire renewable energy assets in India.
Headquartered in Mumbai, Virescent aims to expand its diversified portfolio of operational renewable energy assets, facilitated by investments predominantly made through KKR’s infrastructure fund. Virescent looks to identify investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.
Virescent currently owns 317 MW of solar assets located in Maharashtra and Tamil Nadu. KKR has also entered into definitive agreements to acquire other operating solar projects across three different states. Once closed, these projects will also become part of the Virescent platform. Virescent’s launch comes as renewables are expected to become an increasingly important energy source for citizens across India, a company release said.
Hardik Shah, a Managing Director on KKR’s Infrastructure team, said, “The launch of Virescent is a meaningful milestone for KKR’s Asia Pacific infrastructure strategy amid India’s ambitions to install 175 GW of renewable energy capacity by 2022 and 450 GW by 2030. We look forward to playing a part in meeting these goals and supporting the Government’s Green Energy Corridor initiative through our investment in Virescent.”
Renewable energy represents a key vertical within KKR’s infrastructure strategy, having invested in renewable energy businesses with more than 10,000 MW of total operational capacity. Virescent additionally deepens KKR’s presence in the Indian market.
Source: T&D India
