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IndiGrid to acquire ReNew Solar Aayan, Koppal Transmission for Rs 2,108 Cr
YourStory
·
2m ago
Medial
IndiGrid, India’s first infrastructure investment trust in the power sector, plans to acquire ReNew Solar Aayan and Koppal Narendra Transmission for about Rs 2,108 crore. IndiGrid will gain 100% stake and management control of both assets. The acquisition includes ReNew Solar Aayan, a 300 MW solar project in Rajasthan, and Koppal Narendra Transmission, a transmission project in Karnataka. The purchase will be funded by equity, internal accruals, and debt, aligning with IndiGrid’s long-term strategy.
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KKR-controlled IndiGrid inks $199-mn deal to acquire solar asset
VCCircle
·
1y ago
Medial
India Grid Trust (IndiGrid), controlled by private equity firm KKR, has signed a deal to acquire a 300MW solar power project in Rajasthan from ReNew Power. The enterprise valuation for the asset is estimated at INR 1,550 crore ($199 million). The deal includes an additional earn-out component of around $8 million. ReNew will transfer the outstanding debt of the asset to IndiGrid, resulting in a cash inflow of nearly $82 million. This acquisition will increase IndiGrid's portfolio of operating solar assets to over 1 GW peak capacity.
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IndiGrid partners with British, Norwegian investors, India’s Techno to develop transmission projects | Mint
Livemint
·
11m ago
Medial
IndiGrid Trust has partnered with British International Investment, Norfund's Norwegian Climate Investment Fund, and Techno Electric and Engineering Company to develop three power transmission projects. The projects, which will support the evacuation of renewable energy in Madhya Pradesh and Maharashtra, are Ishanagar Power Transmission Ltd, Dhule Power Transmission Ltd, and Kallam Transco Ltd. The investments will be channeled through KNI India AS, a joint venture between Norfund and KLP. Once operational and revenue-generating, IndiGrid will acquire the entire stake in these projects. IndiGrid also operationalized its first greenfield ISTS project and plans to deploy ₹2,000 crore in additional projects.
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Norfund, DEG in $250-mn race for stake in IndiGrid's power transmission platform
Livemint
·
1y ago
Medial
Investment firms, including Norfund and DEG, are interested in acquiring a stake in an upcoming power transmission platform owned by India Grid Trust (IndiGrid), which is backed by KKR & Co. The deal is projected to have an equity value of around $250 million. Other potential investors include British International Investment, Asian Infrastructure Investment Bank (AIIB), and responsAbility Investments. The platform will support India's goal of increasing renewable energy capacity and reducing reliance on coal for power generation. IndiGrid manages assets worth approximately $3.4 billion and owns numerous power projects, including transmission lines and solar power capacity.
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KKR-backed IndiGrid secures $300 mn funding for new green energy platform
VCCircle
·
8m ago
Medial
KKR-backed IndiGrid has secured $300 million funding from overseas development financiers to establish a green energy platform in India. The funding was provided by British International Investment, Norwegian Climate Investment Fund, and KLP. The new platform, called EnerGrid, will focus on developing greenfield transmission and standalone battery energy storage system projects in India. IndiGrid is the country's first infrastructure investment trust in the power sector and has assets under management of over Rs 29,700 crore. The funding will help IndiGrid create a growth pipeline in the under-construction space and meet India's increasing power demand.
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ReNew Power to invest ₹22,000 cr in Andhra’s largest Green Project
Inshorts
·
2m ago
Medial
ReNew Power will invest ₹22,000 crore to set up India’s largest hybrid renewable energy park in Anantapur, Andhra Pradesh. Featuring solar, wind, and battery storage, the project supports India’s 2030 clean energy targets. It will generate 1.8 GW solar, 1 GW wind, and 2 GWh BESS, creating 10,000 jobs and boosting Andhra Pradesh’s green energy ambitions.
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IndiGrid partners with BII, Norfund to launch platform for greenfield transmission and BESS projects in India
YourStory
·
8m ago
Medial
IndiGrid Technology, a power sector investment trust in India, has partnered with British International Investment and the Norwegian Climate Investment Fund to form a new platform called EnerGrid. The platform will focus on greenfield transmission and Battery Energy Storage System (BESS) projects in India. The partners have committed approximately $300 million to the platform, with each contributing around $100 million. This partnership is expected to help IndiGrid leverage the growing bidding pipeline in the Indian power sector and drive its growth.
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KKR-backed IndiGrid to buy two power assets, taps offshore investor
VCCircle
·
2m ago
Medial
IndiGrid, supported by KKR, plans to acquire two operational green energy assets for Rs 2,175 crore ($250 million). This acquisition aligns with IndiGrid’s strategy to expand its portfolio in the power sector. Additionally, the infrastructure investment trust aims to raise up to $55 million (Rs 471 crore) in new debt from a prominent offshore investor. This initiative reflects IndiGrid’s efforts to reinforce its presence and capabilities in renewable energy infrastructure.
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ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects
Livemint
·
1y ago
Medial
NASDAQ-listed ReNew Energy Global is in discussions with Sembcorp Industries to sell 350 MW of solar energy projects in a deal worth around $241 million. This comes after a previous deal for 1.1 GW of solar and wind power assets fell through due to a valuation gap on the wind assets. The current proposed transaction only involves the sale of solar projects. ReNew aims to sell operational clean energy capacity to reinvest in new clean energy assets. Sembcorp aims to have 25 GW of installed capacity by 2028. India's power demand continues to rise, driving several deals in the renewable energy sector.
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ReNew Energy to set up $2.57 bn solar-wind hybrid project
VCCircle
·
2m ago
Medial
ReNew Energy Global is investing $2.57 billion to develop a solar-wind hybrid project in Andhra Pradesh, India. The project will generate a total of 2.8 gigawatts (GW), comprising 1.8 GW from solar and 1 GW from wind energy, providing power during peak hours. As a major player in renewable energy, ReNew aims to support India's expanding clean energy requirements. The project aligns with India's goal to significantly increase non-fossil power capacity by 2030.
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Societe General to lend up to $1 billion to ReNew for energy transition projects
Livemint
·
1y ago
Medial
Societe Generale, a European financial institution, has reached an agreement to provide up to $1 billion in funding for ReNew Global's renewable energy projects over the next three years. This collaboration will support ReNew's plans to expand its green power and decarbonization initiatives in India and globally. The funding will cover various areas such as solar, wind, energy storage, green hydrogen, and solar module manufacturing. ReNew aims to contribute to India's net-zero goals and is actively seeking funds for its ambitious growth plans in the green energy sector.
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