Virescent Infrastructure, which operates the Virescent Renewable Energy Trust (VRET), is slated to purchase a solar power portfolio worth around Rs 4 billion from Jakson Group.
Three operational solar projects in Uttar Pradesh and Rajasthan are part of the portfolio, and they have 25-year power purchase agreements with NTPC Vidyut Vyapar Nigam and Uttar Pradesh Power Corporation.
The acquisition is nearing completion and will be completed within the next several months.
Following the transaction, Virescent and Jakson Group intend to partner in other areas as well.
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