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Piramal, CPPIB to set up India’s first renewable energy-focused InvIT
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Canada Pension Plan Investment Board (CPPIB) and Piramal Enterprises plan to set up what would be India’s first renewable energy focused infrastructure investment trust (InvIT) to raise $600 million and buy operational assets, highlighting the global focus on alternative energy solutions. 

CPPIB will have 60 per cent stake and Piramal Enterprises 15 per cent in the InvIT, which will be the first of its kind in India’s renewable space. 

The rest will be raised from other long-term investors.

 

"There is a change that is taking place in the renewable space. It has become so competitive and if you want to grow, you have to have a certain size,” Piramal Enterprises chairman Ajay Piramal told ET. “We see a decent opportunity in the space.”