American investment company KKR sets up InvIT for operating renewable energy in India

Private equity firm KKR is building a private infrastructure investment trust (InvIT) to house operating renewable energy assets in India. This is the second InvIT backed by KKR in India. In 2019, KKR, with Singapore’s GIC, invested ₹2,000 crore in India Grid Trust, a listed InvIT that houses power transmission line projects. KKR and GIC hold a 60% stake in the InvIT. KKR has also set up a new platform, Virescent Infrastructure, to manage its investments in the renewable energy space in India.