Expect 6-8 Gw of renewable projects in the market soon: Virescent CEO

India's first renewable InvIT raised Rs 400 crore recently; CEO Sanjay Grewal says there is enough capital to support their investment strategy

Shreya Jai New Delhi
renewable, energy, power, solar, wind, green, clean

India’s first and only Infrastructure Investment Trust (InvIT) in the renewable energy sector, Virescent Renewable Energy Trust (VRET), is banking on the fast growth of the sector in India and latest round of fundraising would boost their chances to meet their target of 2 Gw of assets by FY24.
VRET was floated by Virescent Infrastructure, which is backed by global investment firm KKR. Virescent was set up in 2020 which subsequently floated the VRET in February this year. Last week, the company raised Rs 460 crore from foreign and domestic investors in its first round of funding.
Speaking to Business Standard, Sanjay Grewal, CEO, Virescent Infrastructure said that while the current funding was in line with SEBI regulations, it was enough to support their investment strategy.

Also Read

Overseas green capital chasing renewable energy firms across India

KKR-backed firm raises Rs 460 crore in India's first renewable InvIT

Irdai allows insurers to invest in debt instruments of InvITS and REITS

Betting on power: Insurers line up to invest in PGCIL and IndiGrid InvITs

REITs, InvITs to be part of Nifty indices from September 30: NSE

JSW Steel says group combined output grew 29% to 5 MT in Jul-Sep

Bharti's OneWeb, ISRO arm collaborate to launch satellite in India

OneWeb to be first pvt player to launch satellite from Indian soil: Mittal

Urban Company rejects women workers allegation, says their earning is fair

Tata group may need to invest $1 billion to upgrade Air India fleet

First Published: Oct 11 2021 | 1:12 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to