IndiGrid has commissioned a 180 MW/360 MWh Battery Energy Storage System (BESS) project in Gujarat through its special purpose vehicle Gujarat BESS Private Limited. The project, tied up with Gujarat Urja Vikas Nigam Limited, was fully commissioned on May 7, 2026, after partial commissioning on March 19, 2026. According to the company, the project is…
IndiGrid Infrastructure Trust has completed the acquisition of Gujarat Battery Energy Storage System (BESS) Private Limited from British International Investment PLC (BII) and Norfund, which invested through its vehicle KNI India AS. The transaction was executed at an enterprise value of approximately Rs 573 crore, subject to closing adjustments under the definitive agreements. The project…
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…
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…
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…
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…
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…
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…
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…
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….