IndiGrid to acquire Virescent Renewable Energy Trust from KKR for £388m.

IndiGrid, an infrastructure investment trust established to own inter-state power transmission assets in India, agreed to acquire Virescent Renewable Energy Trust from KKR for £388m. "In line with our identified strategic focus areas, we recently entered into definitive agreements to acquire units of Virescent Renewable Energy Trust, subject to requisite regulatory and unitholders’ approvals. Upon consummation, this will be a landmark acquisition for IndiGrid and will provide an impetus in the renewable space, augment asset management capability and result in sizeable accretion. VRET has aggregated a high-quality portfolio of assets and it will likely enable us to further increase our sustainable DPU run rate in the coming quarters," Harsh Shah, IndiGrid CEO.