Piramal, Canadian fund set up renewable trust
09, May 2019
Prelims level : Mains level :
- Piramal Enterprises Ltd. and Canada Pension Plan Investment Board (CPPIB) have entered into a MoU to co-sponsor a renewable energy-focused Infrastructure Investment Trust.
- The InvIT would seek to acquire up to 1.5-2GW of stable and cash-generating renewable assets on a hold-to-maturity basis.
- Both PEL and CPPIB will act as co-sponsors of the proposed InvIT and hold up to 75% of the units.