US investor KKR-backed Virescent Infrastructure has completed the acquisition of 55 MWp of solar assets from international investors backed Focal Energy. These assets are spread across three states and have a mix of Central Government and State Government off-takers.
The acquisition is in line with Virescent’s strategy to acquire operational renewable energy assets that have stable long-term cashflows with government counterparties across India.
In May this year, Virescent Infrastructure had announced it had completed the acquisition of 76 MWp of Indian solar assets from Singapore’s Sindicatum Group. These PV assets are also spread across three states and benefit from long-term power purchase agreements with government off-takers.
Focal Energy is backed by a group of international investors, including Pitango Venture Capital, Federmann Group, Migdal Group, and Poalim Capital Markets from Israel, and Swiss impact investor Vital Capital.
With the acquisition of Focal’s 55 MWp assets, Virescent now manages 13 operating projects spread across seven states in India, with >50% exposure to Tier 1 counterparties including the Solar Energy Corporation of India (SECI), NTPC Vidyut Vyapar Nigam (NVVN), and Gujarat Urja Vikas Nigam Limited (GUVNL).
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.