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Norfund, DEG in $250-mn race for stake in IndiGrid's power transmission platform

Livemint · 10m

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.