India Grid Trust (IndiGrid) has announced a collaboration with British International Investment (BII), the Norwegian Climate Investment Fund, managed by Norfund, and Techno Electric and Engineering Company Limited (Techno) to develop IndiGrid’s greenfield Interstate Transmission System (ISTS) projects.
Under this collaboration, BII and Norfund will invest in IndiGrid’s three under-construction ISTS projects: Ishanagar Power Transmission Limited (IPTL), Dhule Power Transmission Limited (DPTL), and Kallam Transco Limited (KTCO). Techno will co-develop the IPTL and DPTL projects. These renewable projects will have capacity of 6 GW and will be set up across Madhya Pradesh and Maharashtra.
Furthermore, Techno will invest minority capital and be accountable for the completion of the projects on a Lump Sum Turnkey basis. IndiGrid will acquire the entire stake when the project is complete and operational.
In April 2024, IndiGrid announced its first greenfield project, Kallam Transmission Ltd (KTL). Situated at Beed, Maharashtra. In February 2024, IndiGrid had acquired 300 MW AC solar asset at an enterprise valuation of approximately Rs 15.5 billion, excluding net working capital and cash adjustments. This had increased its generation capacity to a total of 1.1 GWp.
