Infrastructure investment trust IndiGrid has signed a share purchase agreement for the acquisition of Virescent Renewable Energy Trust (VRET) at an enterprise value of up to INR40bn ($533m) in cash. IndiGrid executed the agreement to acquire 100% of the units of VRET from the unitholders of VRET in May 2023. The Virescent portfolio includes 16 operating solar projects with an asset under management of INR41.21bn as of the end of March.
