Workers clean photovoltaic panels inside a solar power plant in Gujarat, India, in this July 2, 2015 file photo. REUTERS/Amit Dave/Files

BENGALURU (Reuters) - Piramal Enterprises Ltd said on Tuesday it had signed a memorandum of understanding with Canada’s biggest public pension fund to co-sponsor a $600 million infrastructure trust focused on renewable energy.

The Canada Pension Plan Investment Board will initially contribute $360 million to the fund with Piramal adding $90 million, the Indian conglomerate said.

The remaining amount will be raised from other investors, Mumbai-based Piramal said here&u=urn:newsml:reuters.com:20190507:nBSE8M6mqb.

CPPIB will hold up to 60 percent stake in the trust, while Piramal will own 15 percent.