British International Investment (BII) and the Norwegian Climate Investment Fund (Norfund) say they will invest in three IndiGrid inter-state transmission system projects that are currently under construction in India.
August 19, 2024 Uma Gupta
Image: IndiGrid
From pv magazine India
IndiGrid, India’s first and largest listed power sector infrastructure investment trust (InvIT), has said that it has partnered with BII, the Norwegian Climate Investment Fund (Norfund), and Techno Electric and Engineering (Techno) to develop IndiGrid’s greenfield interstate transmission system (ISTS) projects.
In fiscal 2024, IndiGrid switched on its first greenfield ISTS project, Kallam Transmission, and won five additional projects, across ISTS and battery energy storage system (BESS), to be deployed over the next 12 to 24 months.
Under this partnership, BII and Norfund will invest in three IndiGrid ISTS projects: Ishanagar Power Transmission Ltd. (IPTL), Dhule Power Transmission Ltd. (DPTL), and Kallam Transco Ltd. (KTCO). These projects are expected to support evacuation of 6 GW of renewable energy in the states of Madhya Pradesh and Maharashtra.
Additionally, Techno will co-develop the IPTL and DPTL projects. It will invest minority capital and will also be responsible for the complete execution of the projects on a lump sum turnkey basis. IndiGrid will be acquiring entire stake in these projects once they are operational and revenue generating.
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