Edelweiss Alternatives backed platform acquires L&T Infrastructure Development Projects Ltd

Infrastructure Yield Plus strategy, managed by Edelweiss Alternatives, has completed the acquisition of a 100% stake in L&T Infrastructure Development Projects Limited (L&TIDPL).

L&TIDPL is owned 51% by Larsen & Toubro Limited and 49% by the Canada Pension Plan Investment Board.

The portfolio comprises seven operating roads and one power transmission asset in India, spanning nearly 4,400 lane-km and around 960 ckms respectively.

With this acquisition, the infrastructure platform will scale up to 26 assets, comprising around 5,000 lane-km of roads, approximately 1,800 ckms of power transmission assets and around 813 MWp of renewables with cumulative annual revenue of around INR 3,000 crore

This acquisition is in line with the infrastructure yield strategy to generate regular distributions for investors by acquiring quality operating infrastructure assets with strong cash flows and unlocking value through active asset management.

Sreekumar Chatra, Managing Director - Infrastructure Yield Strategy, Edelweiss Alternatives, said, “This acquisition is a significant milestone for our business. These assets have a proven track record of revenues & operations, which are geographically dispersed and have long residual life.”

Subahoo Chordia, Head – Real Assets Strategy, Edelweiss Alternatives, said, “With this acquisition, we will have a high-quality diversified infrastructure portfolio of 26 assets across 13 states, making us a leading infrastructure investor in India.”