Latest news with #IndiGrid
Yahoo
09-06-2025
- Business
- Yahoo
IndiGrid to acquire solar project and transmission asset in India
IndiGrid has announced its plan to acquire the solar project ReNew Solar Aayan, located in Rajasthan, and Koppal Narendra Transmission in Karnataka. The two transactions have a total value of approximately Rs21.08bn ($250m), as reported by the Economic Times. This excludes net working capital and cash adjustments. ReNew Solar Aayan Private Limited (RSAPL) is a 300MW alternating current solar project in Rajasthan's Barmer, an area with high solar radiation. Since March 2024, the operational project has had a secure revenue stream through a 25-year long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) at Rs2.37 per unit As a wholly-owned subsidiary of ReNew Solar Power Private Limited, RSAPL benefits from its proximity to RSUPL, an asset bought by IndiGrid in 2024. This acquisition is expected to enhance operational synergies and bolster IndiGrid's position in the renewable energy sector. Koppal Narendra Transmission is a build-own-operate-maintain interstate transmission system (ISTS) venture that has been operational since October 2023 in Karnataka. It features 276 circuit kilometres of transmission lines and has a transformation capacity of 2,500 mega volt-amperes. The ownership of this asset is split between ReNew Solar Power with a 51% stake and KNI India with the remaining 49%. KNI India is a joint venture formed by Norfund and KLP. IndiGrid will secure complete ownership and managerial authority over both entities. IndiGrid managing director Harsh Shah stated: "These acquisitions align with our long-term strategy to participate meaningfully in this transformation by owning and operating essential infrastructure that supports grid stability and energy access". The funding mix for this acquisition will include equity, internal accruals and debt financing. Post-acquisition, IndiGrid stated that its net debt-to-asset under management (AUM) ratio will be maintained at 62%, allowing room for further growth initiatives. "IndiGrid to acquire solar project and transmission asset in India" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
09-06-2025
- Business
- Yahoo
IndiGrid to acquire solar project and transmission asset in India
IndiGrid has announced its plan to acquire the solar project ReNew Solar Aayan, located in Rajasthan, and Koppal Narendra Transmission in Karnataka. The two transactions have a total value of approximately Rs21.08bn ($250m), as reported by the Economic Times. This excludes net working capital and cash adjustments. ReNew Solar Aayan Private Limited (RSAPL) is a 300MW alternating current solar project in Rajasthan's Barmer, an area with high solar radiation. Since March 2024, the operational project has had a secure revenue stream through a 25-year long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) at Rs2.37 per unit As a wholly-owned subsidiary of ReNew Solar Power Private Limited, RSAPL benefits from its proximity to RSUPL, an asset bought by IndiGrid in 2024. This acquisition is expected to enhance operational synergies and bolster IndiGrid's position in the renewable energy sector. Koppal Narendra Transmission is a build-own-operate-maintain interstate transmission system (ISTS) venture that has been operational since October 2023 in Karnataka. It features 276 circuit kilometres of transmission lines and has a transformation capacity of 2,500 mega volt-amperes. The ownership of this asset is split between ReNew Solar Power with a 51% stake and KNI India with the remaining 49%. KNI India is a joint venture formed by Norfund and KLP. IndiGrid will secure complete ownership and managerial authority over both entities. IndiGrid managing director Harsh Shah stated: "These acquisitions align with our long-term strategy to participate meaningfully in this transformation by owning and operating essential infrastructure that supports grid stability and energy access". The funding mix for this acquisition will include equity, internal accruals and debt financing. Post-acquisition, IndiGrid stated that its net debt-to-asset under management (AUM) ratio will be maintained at 62%, allowing room for further growth initiatives. "IndiGrid to acquire solar project and transmission asset in India" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Entrepreneur
09-06-2025
- Business
- Entrepreneur
IndiGrid to Acquire Solar and Transmission Assets Worth INR 2,175 Crore
The acquisitions are expected to be funded through a mix of equity, internal accruals, and debt, with the net debt-to-AUM ratio projected to reach approximately 62 per cent following the transaction You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India Grid Trust (IndiGrid), one of the country's largest publicly listed infrastructure investment trusts in the power sector, has signed definitive agreements to acquire two operational energy assets for a combined enterprise value of up to INR 2,175 crore, including adjustments. The announcement was made through a press release issued by the company. The acquisition includes a 300 MW solar power project and a high-capacity transmission system, both already in operation. The move is part of IndiGrid's ongoing strategy to expand its footprint in the renewable energy and transmission segments while strengthening its asset base across key regions. The solar asset, Renew Solar Aayan Private Limited (RSAPL), is situated in Barmer, Rajasthan, an area known for strong solar irradiation. Operational since March 2024, RSAPL is backed by a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI), offering a fixed tariff of INR 2.37 per unit. The project is a wholly owned subsidiary of ReNew Solar Power Private Limited and sits in close proximity to another IndiGrid-owned project, RSUPL, enabling operational synergies and enhanced regional presence in renewables. The second acquisition, Koppal Narendra Transmission Limited (KNTL), is a build-own-operate-maintain (BOOM) inter-state transmission system project in Karnataka. Commissioned in October 2023, it consists of about 276 circuit kilometers of transmission lines and a transformation capacity of around 2,500 MVA. KNTL is jointly owned by ReNew Solar Power Private Limited (51 per cent) and KNI India (49 per cent), a joint venture between Norfund and KLP. Its strategic location supports long-term grid expansion in the rapidly growing southern region. Pending necessary regulatory and contractual approvals, IndiGrid will assume full ownership and management control of both assets. The acquisitions are expected to be funded through a mix of equity, internal accruals, and debt, with the net debt-to-AUM ratio projected to reach approximately 62 per cent following the transaction—still within comfortable limits for future investments. "India's power sector is at a pivotal juncture, with the need for robust transmission infrastructure and accelerated renewable integration becoming more critical than ever," said Harsh Shah, managing director of IndiGrid. "These acquisitions align with our long-term strategy to participate meaningfully in this transformation by owning and operating essential infrastructure that supports grid stability and energy access."
&w=3840&q=100)
Business Standard
07-06-2025
- Business
- Business Standard
IndiGrid to acquire 300 MW solar project, transmission asset for ₹2,108 cr
The solar asset, Renew Solar Aayan Private Ltd (RSAPL), is a 300 MW (AC) operational project located in Barmer, Rajasthan, a region known for high solar irradiation Press Trust of India New Delhi IndiGrid on Saturday said it will acquire ReNew Solar Aayan, a 300 MW (AC) solar project, and Koppal Narendra Transmission in two separate transactions for about Rs 2,108 crore. Inclusive of the adjustments, the enterprise value will not exceed Rs 2,175 crore, a statement said. IndiGrid announced the execution of definitive agreements to acquire one solar and one transmission asset, aggregating to an enterprise value of approximately Rs 2,108 crore, excluding any net working capital and cash adjustments, it added. The solar asset, Renew Solar Aayan Private Ltd (RSAPL), is a 300 MW (AC) operational project located in Barmer, Rajasthan, a region known for high solar irradiation. The project has been operational since March 2024 and benefits from a long-term 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) at a fixed tariff of Rs 2.37 per unit. A 100 per cent subsidiary of ReNew Solar Power Private Limited, RSAPL's proximity to RSUPL an asset acquired by IndiGrid in 2024 offers strong operational synergies and strengthens the platform's presence in the renewable segment. The transmission asset, Koppal Narendra Transmission Limited (KNTL), is a Build-Own-Operate-Maintain (BOOM) Inter-State Transmission System (ISTS) project located in Karnataka. Operational since October 2023, KNTL comprises approximately 276 circuit kilometres of transmission lines and 2,500 MVA of transformation capacity. The asset is jointly owned by ReNew Solar Power Private Limited (51 per cent) and KNI India (49 per cent), a joint venture between Norfund and KLP. With its location in a region witnessing rapid grid expansion, KNTL offers meaningful long-term augmentation potential for IndiGrid. Subject to regulatory and contractual approvals, IndiGrid will acquire 100 per cent shareholding and management control of both assets, in line with the provisions of the definitive and concession agreements and the power purchase agreement (PPA), including lock-in obligations therein, it stated. Harsh Shah, Managing Director of IndiGrid, said, "These acquisitions align with our long-term strategy to participate meaningfully in this transformation by owning and operating essential infrastructure that supports grid stability and energy access". This acquisition will be funded through a combination of equity, internal accruals, and debt, the statement said. The net debt/AUM will be 62 per cent post this acquisition, leaving adequate headroom for future growth, it added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
07-06-2025
- Business
- Time of India
IndiGrid to acquire transmission, solar assets for Rs 2,100 cr
IndiGrid on Saturday said it will acquire ReNew Solar Aayan , a 300 MW (AC) solar project, and Koppal Narendra Transmission in two separate transactions for about Rs 2,108 crore. Inclusive of the adjustments, the enterprise value will not exceed Rs 2,175 crore, a statement said. IndiGrid announced the execution of definitive agreements to acquire one solar and one transmission asset , aggregating to an enterprise value of approximately Rs 2,108 crore, excluding any net working capital and cash adjustments, it added. The solar asset, Renew Solar Aayan Private Ltd (RSAPL), is a 300 MW (AC) operational project located in Barmer, Rajasthan, a region known for high solar irradiation. The project has been operational since March 2024 and benefits from a long-term 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) at a fixed tariff of Rs 2.37 per unit. Live Events A 100 per cent subsidiary of ReNew Solar Power Private Limited, RSAPL's proximity to RSUPL - an asset acquired by IndiGrid in 2024 - offers strong operational synergies and strengthens the platform's presence in the renewable segment. The transmission asset, Koppal Narendra Transmission Limited (KNTL), is a Build-Own-Operate-Maintain (BOOM) Inter-State Transmission System (ISTS) project located in Karnataka. Operational since October 2023, KNTL comprises approximately 276 circuit kilometres of transmission lines and 2,500 MVA of transformation capacity. The asset is jointly owned by ReNew Solar Power Private Limited (51 per cent) and KNI India (49 per cent), a joint venture between Norfund and KLP. With its location in a region witnessing rapid grid expansion, KNTL offers meaningful long-term augmentation potential for IndiGrid. Subject to regulatory and contractual approvals, IndiGrid will acquire 100 per cent shareholding and management control of both assets, in line with the provisions of the definitive and concession agreements and the power purchase agreement (PPA), including lock-in obligations therein, it stated. Harsh Shah, Managing Director of IndiGrid, said, "These acquisitions align with our long-term strategy to participate meaningfully in this transformation by owning and operating essential infrastructure that supports grid stability and energy access". This acquisition will be funded through a combination of equity, internal accruals, and debt, the statement said. The net debt/AUM will be 62 per cent post this acquisition, leaving adequate headroom for future growth, it added.
