KKR-backed Virescent Infrastructure, a renewable energy-focused infrastructure investment trust (InvIT), has raised INR 2,150 crore ($28.87 million) of debt financing.
The non-convertible debentures (NCD) proceeds will be used to refinance existing debt at the special-purpose vehicle (SPV) level as well as fund future acquisitions. This transaction marks the first-ever issuance by a renewable energy InvIT in India.
Virescent was set up by KKR in October 2020 to acquire operating renewable energy assets in India.
