IndiGrid Expands Footprint with Major Solar and Transmission Acquisitions

IndiGrid's Power Play: Rs 2,108 Crore Investment in Solar & Transmission Assets

In a significant move to bolster India's renewable energy landscape, IndiGrid announced a substantial acquisition on Saturday. The company will be adding a 300 MW solar project and a key transmission asset to its portfolio, for a total investment of approximately Rs 2,108 crore.

This strategic acquisition underscores IndiGrid's commitment to expanding the nation's renewable energy infrastructure. The deal includes two key assets:

• ReNew Solar Aayan: A 300 MW solar facility located in Barmer, Rajasthan, operating under a robust 25-year Power Purchase Agreement. This project represents a significant step towards ensuring a sustainable energy future.
• Koppal Narendra Transmission Limited: Strategically located in Karnataka, this asset plays a crucial role in inter-state grid expansion, enhancing the reliability and efficiency of India's power network.

Both acquisitions promise substantial future growth potential and create exciting opportunities for operational synergies within IndiGrid's existing portfolio.

IndiGrid plans to finance this ambitious undertaking through a diversified approach, incorporating a blend of equity, internal accruals, and debt. Even after the acquisition, the company's net debt to asset under management ratio will remain at a manageable 62%, leaving ample room for future expansion and investment.

This strategic acquisition solidifies IndiGrid's position as a key player in India's rapidly evolving energy sector, setting the stage for further growth and innovation in renewable energy infrastructure.