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IndiGrid partners with BII, Norfund, Techno Electric to develop greenfield transmission projects across India

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IndiGrid, a power sector infrastructure investment trust, has announced strategic partnerships with British International Investment (BII), the Norwegian Climate Investment Fund, and Techno Electric and Engineering Company to develop greenfield Interstate Transmission System (ISTS) projects across India.

In fiscal year 2024, IndiGrid successfully operationalized its first greenfield ISTS project, Kallam Transmission, and secured five additional projects in ISTS and Battery Energy Storage Systems (BESS). These projects are expected to require a capital expenditure of approximately Rs 20 billion, to be deployed over the next 12-24 months.

As part of the collaboration, BII and Norfund (via KNI India AS, Norfund’s joint venture with KLP, Norway’s largest pension company) will invest in three of IndiGrid’s ISTS projects currently under construction: Ishanagar Power Transmission (IPTL), Dhule Power Transmission (DPTL), and Kallam Transco (KTCO). These projects aim to facilitate the evacuation of around 6 gigawatts (GW) of renewable energy in Madhya Pradesh and Maharashtra.

Techno Electric and Engineering Company will co-develop the IPTL and DPTL projects, contributing minority capital and overseeing their execution on a Lump Sum Turnkey (LSTK) basis. IndiGrid plans to acquire full ownership of these projects once they become operational and start generating revenue.

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