January 24, 2024: The Asian Infrastructure Investment Bank (AIIB) made an investment of Rs 4.86 billion (approximately $58.4 million) in Sustainable Energy Infra Trust (SEIT), which stands as India’s largest renewable energy Infrastructure Investment Trust (InvIT). SEIT manages eight operational solar power generation assets with a total capacity of 1.54 gigawatts located across India.
Co-sponsored by Mahindra Susten, the dedicated renewable energy platform of the multinational conglomerate Mahindra Group, and institutional investor Ontario Teachers’ Pension Plan, SEIT was established under the SEBI (Securities and Exchange Board of India) InvIT Regulations.
This marks AIIB’s second investment in InvITs in India, following a June 2019 investment of around $50 million in Oriental Structural Engineers InvIT, aimed at mobilising long-term private institutional capital for the financing of roads and highways in India.
AIIB is committed to supporting the development of InvITs as a recognized infrastructure asset class in India. The successful listing of SEIT serves as a noteworthy contribution to the capital-raising track record and reinforces the establishment and validation of InvITs as a sustainable channel for long-term financing in India. Through the backing of SEIT, the sponsors gain a valuable avenue to monetize their investments in revenue-generating infrastructure assets, unlocking essential capital to fuel their ambitious growth plans for developing new renewable energy assets.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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