Piramal Enterprises has signed a Memorandum of Understanding (MoU) with Canada Pension Plan Investment Board (CPPIB), a Canadian pension fund, to co-sponsor a renewable energy focused Infrastructure Investment Trust (InvIT).
With an initial corpus of $600 million and the option to scale further, the InvIT would seek to acquire up to 1.5-2GW of stable and cash generating renewables assets on a hold-to-maturity basis, with a firm focus on diversification of both asset type as well as off-taker profile.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
