Edelweiss Energy InvIT raises Rs 2,300 crore; to invest in energy assets

Edelweiss Real Assets Managers Ltd, which is part of Edelweiss Alternatives, announced the close of AnZen India Energy Yield Plus Trust (“AnZen Trust”), its maiden energy infrastructure investment trust (InvIT). AnZen Trust is a diversified energy assets InvIT with an initial Asset under Management (AuM) of over Rs 2,300 crore. 

The company informed, fund raise of AnZen Trust was through private placement and "received an encouraging response from a diversified set of institutional and other eligible investors" who hold 26 per cent of the units. Sekura Energy Private Limited is the Sponsor of  Anzen Trust and Edelweiss Real Assets Managers Limited is the Investment Manager.

"AnZen Trust would be looking to invest in a diversified portfolio of energy assets including transmission lines and renewable power projects to provide long term predictable yield and growth to its investors," said a statement by the company.  Ranjita Deo, CIO, AnZen Trust said, “ AnZen Trust intends to provide a diversified exposure to the energy sector in India which has seen impressive growth over the years. Portfolio diversity presents better growth opportunity for AnZen Trust and a well-diversified de-risked strategy for investors.”

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar. These assets have a residual transmission service agreement tenure of over 30 years under the point of connection (PoC) mechanism managed by Power Grid Corporation of India (“PGCIL”). Additionally, it also has got the right of first offer (ROFO) on the shareholding of its Sponsor/Affiliates in 12 solar energy assets with an aggregate generation capacity of 813 megawatt.

Subahoo Chordia, Head - Infrastructure Funds, Edelweiss Alternatives said, “Over the years, we have built a differentiated asset management platform with deep investment and operating expertise.  AnZen Trust will help us provide an investment solution to meet the growing yield requirements of our clients and expand our customer franchisee. Edelweiss Alternatives has embarked on its perpetual strategy AUM journey with this InvIT and we expect to grow our perpetual strategies in coming years, delivering value to all our stakeholders.”