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IndiGrid to acquire Gadag Transmission Limited for Rs 372 crore
December 4, 2025December 4, 2025 India, News, T&D

IndiGrid has signed definitive agreements to acquire Gadag Transmission Limited (GTL), an ISTS project in Karnataka, for an enterprise value of about Rs 372 crore. The deal excludes net working capital and cash adjustments and includes an earn out linked to Change In Law, availability, and bilateral billing, payable only if recovered. GTL is a BOOM asset developed as the first phase of a scheme to evacuate about 2,500 MW of solar power from the…

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IndiGrid to acquire NERES XVI transmission project from Techno Electric
August 22, 2025August 22, 2025 India, News

IndiGrid Infrastructure Trust (IndiGrid) has signed definitive agreements with Techno Electric & Engineering Company Ltd (TEECL) to acquire NERES XVI Power Transmission Ltd (NPTL), an interstate transmission project in the Northeast, following its commissioning and receipt of necessary approvals. The project includes a 400/220/132 kV substation with a total transformation capacity of 1,400 MVA and a 45 km double-circuit transmission line. It is targeted for completion by December 2026. TEECL will develop and execute the…

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IFC backs IndiGrid’s 180 MW battery storage project in Gujarat
July 7, 2025July 7, 2025 India, News

The International Finance Corporation (IFC) and India Grid Trust (IndiGrid) have partnered to develop a 180 MW/360 MWh standalone battery energy storage system (BESS) project in Gujarat. IFC has committed $55 million (Rs 4.6 billion approx.) in long-term financing to the project through listed non-convertible debentures. This includes $38.5 million from IFC’s account and $16.5 million in concessional finance from the Clean Technology Fund under the Climate Investment Funds framework. The investment was completed during…

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IndiGrid to acquire ReNew solar and transmission assets
June 11, 2025June 11, 2025 India, News

IndiGrid has signed definitive agreements to acquire two operational infrastructure assets from ReNew Power in separate transactions. The combined enterprise value of the deals stands at approximately Rs 21.75 billion, including net working capital and cash adjustments. The first acquisition is a 300 MW AC solar power project located in Barmer, Rajasthan. The project—ReNew Solar Aayan Private Limited—was commissioned in March 2024 under SECI Tranche-IX. It operates under a 25-year power purchase agreement (PPA) with…

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IndiGrid and JSW Energy report profit growth in FY 2024-25
May 19, 2025May 19, 2025 India, News

IndiGrid Infrastructure Trust and JSW Energy Limited have reported solid financial results for the year ending March 31, 2025. IndiGrid posted a net profit of Rs 4.11 billion, marking a 38.85 per cent increase from Rs 2.96 billion in the previous year. Its total income rose by 15.1 per cent to Rs 34.38 billion. In the fourth quarter, consolidated revenue reached Rs 8.743 billion, up 11.3 per cent year-on-year. For the full year, consolidated revenue…

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IndiGrid commissions India’s first regulated utility-scale BESS project
April 7, 2025April 7, 2025 India, News

IndiGrid has commissioned India’s first regulated utility-scale standalone Battery Energy Storage System (BESS) project with a capacity of 20 MW/40 MWh. The project is located in Delhi and operated by Kilokari BESS Pvt Ltd (KBPL). This marks IndiGrid’s first commercial battery storage project and a significant step in India’s push for cleaner, more resilient power infrastructure. KBPL is designed to support grid stability, manage peak demand, and integrate renewable energy at the distribution level. IndiGrid…

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RECPDCL transfers four transmission SPVs to PGCIL and IndiGrid
March 26, 2025March 26, 2025 India, News

REC Power Development & Consultancy Limited (RECPDCL) has transferred four special purpose vehicles (SPVs) to Power Grid Corporation of India Limited (PGCIL) and IndiGrid 2 Private Limited for the development of transmission system projects across India. The transfer took place on March 24, 2025. SPVs transferred to PGCIL PGCIL has taken over three SPVs for key transmission projects: Banaskantha Transco Limited – Augmentation of transformation capacity at Banaskantha (Raghanesda) PS (GIS) in Gujarat. Kurnool-IV…

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IndiGrid wins bid to evacuate power from Ratle and Kiru HEPs
March 11, 2025March 11, 2025 India, News

IndiGrid 2 Private Limited, a subsidiary of IndiGrid, has secured the Letter of Intent (LoI) to develop the Transmission scheme for evacuation of power from Ratle HEP (850 MW) & Kiru HEP (624 MW): Part-A. The selection was made through a tariff-based competitive bidding (TBCB) process under the build, own, operate, and transfer (BOOT) model. REC Power Distribution Company Limited (REC PDCL), which invited bids in September 2024, acted as the bid process coordinator (BPC)…

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IndiGrid, BII, and Norfund launch $300 million platform
November 14, 2024November 14, 2024 India, News

IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have established EnerGrid, a $300 million platform focused on greenfield transmission and standalone battery energy storage system (BESS) projects in India. Each partner will invest $100 million, with EnerGrid aiming to develop projects valued at approximately $1.2 billion over the next several years. Once operational, IndiGrid will acquire these projects at a pre-agreed enterprise value. IndiGrid’s Q2 FY25 investor presentation highlighted…

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IndiGrid reports Rs 651 billion bid pipeline, expands BESS portfolio with new projects
October 28, 2024October 28, 2024 India, News

India Grid Trust (IndiGrid) has estimated a bid pipeline worth over Rs 651 billion in the power transmission sector, as disclosed in its Q2 FY25 investor presentation. The pipeline includes interstate transmission system (ISTS) projects with issued requests for proposal (RfP). Additionally, IndiGrid sees an estimated Rs 35 billion opportunity in the battery energy storage system (BESS) market, primarily from projects in Gujarat and Uttar Pradesh. In Q2FY25, IndiGrid announced a partnership with British International…

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