IndiGrid Infrastructure Trust (IndiGrid) has signed securities purchase agreements to acquire Luhri Power Transmission Limited, a project-specific special purpose vehicle (SPV), from Enerica ReGrid Infra Private Limited (EnerGrid). The acquisition is valued at an enterprise value of up to Rs 13.36 billion, subject to closing adjustments.
The SPV was incorporated by REC Power Development and Consultancy Limited to develop the transmission system for evacuation of power from Sunni Dam hydroelectric power project and Luhri Stage-I hydroelectric power project. It was handed over to Terralight Solar Energy Tinwari Private Limited, a group entity of EnerGrid, on August 21, 2026. The project is expected to achieve commercial operation in the third quarter of FY 2030. IndiGrid will acquire the SPV after the project is completed and becomes revenue-generating. The transaction is subject to regulatory approvals and approval from IndiGrid’s unitholders.
