Virescent To Acquire 100MW Solar Assets from Jakson Group

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The final stages of discussions to acquire 100MW of solar assets from Jakson Group are being conducted by KKR, a global funding agency, KKR-backed Virescent Renewable Energy Trust.

The 100MW portfolio includes three solar energy projects in Rajasthan and Uttar Pradesh. It has influence buy settlement (PPA), with NTPC Vidyapar Nigam Ltd, and Uttar Pradesh Power Corporation for 25 year.

Mumbai based Virescent was founded to acquire working assets as well as provide funding options in the rapidly-growing sector of renewable vitality.

It announced that Virescent, India’s one infrastructure trust (InvIT), is in charge of the renewable vitality sector.

Jakson Group has around 200MW of solar portfolio and 4 initiatives. It recently launched Jakson Green Pvt Ltd, (JGPL) which can deal with inexperienced energy.

Virescent would expand its portfolio of operational renewable energy assets and identify investment opportunities with stable cash flows resulting from long-term contracts in India with central and state-owned power utilities, said the company.

The Jakson acquisition would bring Virescent’s total operational solar capacity to 600MW.