Edelweiss Infrastructure Yield Plus (EIYP), an alternative investment fund managed by Edelweiss Alternative Asset Advisors, has acquired a 74 percent stake in Engie Group’s solar portfolio in India, according to several news reports.
The deal gives EIYP access to a 2-gigawatt pipeline of assets that will be developed and constructed by Engie over the next couple of years, writes The Economic Times. The investment was in line with EIYP’s strategy to generate regular yield and create value for its investors by taking a controlling stake in quality operating infrastructure assets with strong cash flows.
“Acquiring operating infrastructure assets helps developers to unlock capital and de-lever, enabling them to take on newer and larger opportunities,” said Hemant Daga, CEO of Edelweiss Asset Management. “As India transitions to clean energy, this model will be the core to the country’s ambitious renewable capacity expansion program.”
EIYP reac