Virescent Renewable Energy Trust (VRET), India’s first renewable energy infrastructure investment trust (InvIT) set up by KKR-backed Virescent Infrastructure, has raised ₹2,150 crore through long-term debt financing instruments. “VRET raised ₹1,000 crore in its debut issuance across three-, five- and seven-year tranches. This transaction marks the first-ever issuance by a renewable energy InvIT in India, thereby establishing a new yield curve. There is a growing interest in Indian green energy InvITs, amid increasing focus on environmental, social and governance investments. Investors’ interest in India’s green energy space also stems from the government’s proposal of a minimum share of renewable energy in the overall consumption by an industrial unit or an establishment.

Source: Mint November 15, 2021 01:44 UTC