Adani, Torrent, Shell, and Actis competing for KKR's energy InvIT

12 Jan 2023 CW Team

Virescent Renewable Energy Trust, an infrastructure investment trust (InvIT) owned by KKR India is being sought after by a group of about six domestic and international energy developers for an enterprise value of $550 million. These developers include Adani Green, Torrent Power, Shell, and Actis. The trust has a portfolio of 16 operational solar power plants spread across 7 states, totalling 538 MW in capacity. This could be the first sale of an InvIT in India if the purchase goes through.

According to the sources previously mentioned, the competitors have recently made non-binding offers and are currently in negotiations with KKR and its advisors JP Morgan, who will move forward with a smaller group of shortlisted candidates for the next stage of negotiations and due diligence.

Around 9 operating solar power projects totalling 394 MW were included in the trust's initial portfolio of assets. These projects were located in Maharashtra, Tamil Nadu, Rajasthan, Gujarat, and Uttar Pradesh. The trust then added 7 more operating solar power projects totalling 144 MW in Punjab, Madhya Pradesh, and Rajasthan. With central and state government offtakers, all 16 projects have long-term Power Purchase Agreements (PPAs) for 25 years.

According to a recent study, there is a strong InvITs pooled structure that produces a well-diversified mix of assets, and the cash flows from the pool of 14 assets, which have a three to nine year operational track record. The projects are spread out over seven states, which minimises the effect of any one-time resource-related hazards at remote places.

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..