Neo Infra fund acquires SolarArise for Rs 1,400 crore
Author: PPD Team Date: August 25, 2025
Neo Group’s flagship infrastructure fund, Neo Infra Income Opportunities Fund (NIIOF), has acquired SolarArise India Projects Pvt. Ltd from ThomasLloyd Energy Impact Trust for an enterprise value of Rs 1,400 crore, according to Mint.
The deal adds 433.5 MWp of operational solar assets across Maharashtra, Uttar Pradesh, Madhya Pradesh, Karnataka, and Telangana.
NIIOF, a Securities and Exchange Board of India (SEBI) Category II Alternative Investment Fund, said the acquisition supports its strategy of building a portfolio of operating infrastructure assets with stable cash flows.
NIIOF closed in July 2025 at Rs 2,300 crore, above its initial target of Rs 2,000 crore. The fund is backed by Peak XV Partners, MUFG Bank, and Euclidean Capital.