Latest news with #IndiGrid
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Business Standard
a day ago
- 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
a day ago
- 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.
The Hindu
a day ago
- Business
- The Hindu
IndiGrid to acquire solar, transmission assets for ₹2,108 crore
IndiGrid, a power sector infrastructure investment trust (InvIT), announced the execution of definitive agreements to acquire one solar and one transmission asset, aggregating to an Enterprise Value (EV) of about ₹2,108 crore, excluding any net working capital and cash adjustments. Inclusive of the adjustments the EV will not exceed ₹2,175 crore, IndiGrid said in a statement. The solar asset, Renew Solar Aayan Private Ltd (RSAPL), is a 300 MW (AC) operational project located in Barmer, Rajasthan. The transmission asset, Koppal Narendra Transmission Ltd (KNTL), is a Build-Own-Operate-Maintain (BOOM) Inter-State Transmission System (ISTS) project located in Karnataka. Subject to regulatory and contractual approvals, IndiGrid will acquire 100% 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. Harsh Shah, Managing Director, 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. 'RSAPL and KNTL are both high-quality operational assets that deepen our presence in key geographies and enhance our portfolio's diversification and are DPU accretive,' he said. 'As the sector continues to evolve, IndiGrid remains focused on building a future-ready platform that supports the nation's energy ambitions while delivering sustained value to our unitholders,' he added. This acquisition will be funded through a combination of equity, internal accruals, and debt. The net debt/AUM will be 62% post this acquisition, leaving adequate headroom for future growth.
Hans India
30-05-2025
- Business
- Hans India
South Asia's largest Battery Energy Storage System opened
New Delhi: Delhi Power Minister Ashish Sood inaugurated India's first commercially approved and South Asia's largest 20 MW/40 MWh standalone utility-scale Battery Energy Storage System (BESS) at the 33 kV Kilokari sub-station in New Delhi. The system has been developed by BSES Rajdhani Power Limited in collaboration with IndiGrid, GEAPP, and TERI. The inauguration ceremony was attended by Member of Parliament Ramvir Singh Bidhuri, along with representatives from various power companies. Speaking on the occasion, Sood described the project as a historic milestone in India's power sector, especially for the national capital. 'This advanced technological setup sets a benchmark not only for Delhi but for the entire country. Developed with state-of-the-art inverter-type battery systems, this initiative will ensure uninterrupted power supply to Delhi's citizens,' he said. He emphasised that the project has been completed in record time under the leadership of Chief Minister Rekha Gupta. The new storage facility, based on cutting-edge technology, aims to significantly enhance the reliability of power supply, particularly in areas with limited infrastructure and unauthorized colonies where grid access is constrained. Sood added that the Delhi government is committed to investing in advanced energy technologies and will offer support to entrepreneurs working in the solar energy sector. 'This project not only contributes to clean energy storage but also marks the beginning of a new era of innovation in power management,' he said.
Hindustan Times
30-05-2025
- Business
- Hindustan Times
Delhi govt inaugurates battery system to manage peak demand
Delhi power minister Ashish Sood on Thursday inaugurated a 20MW/40MWh stand-alone utility-scale battery energy storage system (BESS), at Kilokri in south Delhi, and said that it will be used to improve power supply and manage peak power demand. Developed by BSES Rajdhani Power Limited, officials said it is the country's first commercially approved and South Asia's largest such system. 'This system, built in record time under the leadership of CM Rekha Gupta, sets a new benchmark in regulatory and technological innovation across India. Developed with support from IndiGrid, GEAPP, and TERI, this is south Asia's largest standalone battery inverter-type power setup — based on advanced technology. Through this initiative, the government aims to ensure uninterrupted power supply for Delhi's citizens. This cutting-edge model will be widely adopted to eliminate power outages across the capital,' Sood said. South Delhi MP Ramvir Singh Bidhuri was also present on the occasion. The minister said the 20MW storage system will reduce the strain on Delhi's power infrastructure. The government will scale up the model further, particularly in unauthorised colonies and areas with limited land availability or no existing grid. 'Under the leadership of CM Rekha Gupta, the Delhi government's top priority is to overhaul the neglected and outdated power infrastructure of the last ten years. The aim is to rapidly adopt new technologies to ensure smooth and round-the-clock electricity supply for the people of Delhi,' Sood said.
