Sanjay Grewal, Chief Executive Officer & Executive Director, Virescent Infrastructure

Renewable energy firm Virescent Infrastructure, backed by global investment firm, KKR, has floated India's first infrastructure investment trust (InvIT) in the green power space under the leadership of Sanjay Grewal, Chief Executive Officer & Executive Director, Virescent Infrastructure. This InvIT aims to achieve assets of about 1.5 GW in the next two to three years. KKR has sought approval from the Securities and Exchange Board of India (SEBI) for the private InvIT. It is also in the process of acquiring a portfolio of operational solar assets of about 76 MWp (megawatt peak) at different locations, including Mohaba (Uttar Pradesh), Jodhpur (Rajasthan) and Patan (Gujarat). The power purchase agreements (PPAs) for these assets are with state-owned counterparties. The assets will be vested in the InvIT.