Edelweiss Real Assets Managers Limited, a part of Edelweiss Alternatives, has closed the AnZen India Energy Yield Plus Trust, its maiden energy infrastructure investment trust (InvIT) with initial assets under management of over Rs 2,300 crore ($282 million).
AnZen raised the funds through private placement and attracted a diversified set of institutional and other eligible investors who now hold 26% of the units. Sekura Energy Pvt. Ltd is the sponsor of Anzen Trust and Edelweiss Real Assets Managers is the investment manager.
AnZen would be looking to invest in a diversified portfolio of energy assets including transmission lines and renewable power projects to provide long-term predictable yield and growth to its investors.
It has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar. These assets have a residual transmission service agreement tenure of over 30 years under the point of connection mechanism managed by Power Grid Corporation of India.
Additionally, it also has the right of first offer on the shareholding of its sponsor/affiliates in 12 solar energy assets with an aggregate generation capacity of around 813 MWp.
Ranjita Deo, CIO, AnZen Trust said, “InvITs are a compelling investment alternative for investors who are looking for predictable yields and sustainable appreciation through growth. AnZen Trust intends to provide a diversified exposure to the energy sector in India which has seen impressive growth over the years. Portfolio diversity presents better growth opportunity for AnZen Trust and a well-diversified de-risked strategy for investors.”
Subahoo Chordia, Head – Infrastructure Funds, Edelweiss Alternatives said, “Over the years, we have built a differentiated asset management platform with deep investment and operating expertise. Edelweiss Alternatives has embarked on its perpetual strategy AUM journey with this InvIT and we expect to grow our perpetual strategies in coming years, delivering value to all our stakeholders.”