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Virescent Renewable Energy Trust’s arm inks BTA to acquire solar project in Gujarat

23 Feb 2023 Evaluate

Virescent Renewable Energy Trust’s wholly owned subsidiary -- Godawari Green Energy has executed a binding Business Transfer agreement (BTA) for acquiring 23.0 MW AC / 25.0 MW DC operational solar project in Surendranagar district of Gujarat currently owned by Samta Energy (SEPL).

The acquisition of aforesaid solar project is in line with the Virescent Renewable Energy Trust investment strategy as provided in the Trust Deed with a focus to ensure stable distribution to unitholders by owning assets with long term contracts. The completion of acquisition would depend upon completion of contractual obligations.

Virescent Renewable Energy Trust is an infrastructure investment trust (InvIT) established as a trust under the Indian Trusts Act, 1882 with the objective of undertaking investment activities as an InvIT in accordance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.

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