Sustainable Energy Infra Trust

SEIT is a renewable energy infrastructure investment trust (InvIT) sponsored by Mahindra Susten Pvt Ltd and Ontario Teachers’ Pension Plan (OTPP). The trust is managed by Sustainable Energy Infra Investment Managers Pvt Ltd as the investment manager, Green Energy Infra Project Managers Pvt Ltd as the project manager, and Axis Trustee Services Ltd as the trustee.

SEIT holds an operational solar portfolio of 1.13 GW (AC) across 8 projects in 5 states. The company has strategically aligned its portfolio to focus primarily on central counterparties and state distribution companies (discoms) with a proven track record of timely payments.

Portfolio Highlights - Q2 FY26:
95% capacity is tied up with Tier 1 counterparties. Weighted avg PPA Tariff of Rs 3.05 per kWh. Weighted avg residual PPA life of 20 years. 95% capacity is registered under GS/VCS. Central PPAs make up ~76% of the portfolio and state PPAs comprises 24%.

The trust is AAA rated by CRISIL & Ind Rating with stable outlook. Total debt is Rs 32,577 mn. Overall leverage is at 45.12% with DSCR of 1.88x. Weighted avg cost of debt is 7.37% with 46% loan portfolio being fixed rate borrowings. Axis Bank, SBI MF, Kotak Life, HDFC Life, Aditya Birla Capital are the lenders.