New Delhi, Aug. 25 -- Neo Group's flagship infrastructure fund, Neo Infra Income Opportunities Fund (NIIOF), has bought SolarArise India Projects Pvt. Ltd from the London Stock Exchange-listed ThomasLloyd Energy Impact Trust for an enterprise value of Rs.1,400 crore.

The deal marks NIIOF's entry into the renewable energy space, adding 433.5 MWp of operational solar assets across five states-Maharashtra, Uttar Pradesh, Madhya Pradesh, Karnataka, and Telangana.

In a statement to Mint, NIOF said that the acquisition aligns well with its commitment to building a high-quality portfolio backed by stable cash flows.

"By adding SolarArise to its portfolio, NIIOF marks its entry into the renewable space and enhances its ability to deliver predi...