IndiGrid reports Rs 651 billion bid pipeline, expands BESS portfolio with new projects
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 Investment, the Norwegian Climate Investment Fund, and Techno Electric & Engineering to develop three greenfield ISTS projects. IndiGrid also secured the L1 position for a 250 MW/500 MWh BESS project in a reverse auction by NTPC VidyutVyapar Nigam (NVVN), part of a larger 500 MW/1,000 MWh initiative under a viability gap funding scheme. This addition brings IndiGrid’s BESS portfolio under construction to 450 MW/900 MWh, enhancing scale benefits.
As of September 30, 2024, IndiGrid owns 41 power projects with 49 transmission lines (over 8,700 ckm), 15 substations (22,550 MVA transformation capacity), and 855 MWAC of solar generation capacity. The company’s assets under management (AUM) exceed Rs 297 billion (approx. USD 3.5 billion).
IndiGrid has also received board approval for a name change to “IndiGrid Infrastructure Trust,” pending unitholder approval. This change aligns with SEBI’s advisory for InvITs to remove names like “India” and “National” to avoid implied government affiliation.