IndiGrid has received a letter of intent from REC Power Development and Consultancy Limited for the development of two new inter-state transmission projects. These projects, acquired through a tariff-based competitive bidding process, will follow the build, own, operate, and transfer model for a duration of 35 years. The estimated cost for each project, with a construction timeline of approximately 24 months, exceeds Rs 10 billion.

The first project, expected to incur yearly transmission costs of around Rs 530 million post-completion, involves the evacuation of energy from the Dhule 2 GW renewable energy zone. It includes the construction of a pooling station with a 4?500 MVA capacity at 400/220 kV, along with a 400 kV D/C line spanning approximately 70 kms. The second project, with transmission charges of about Rs 625 million annually after completion, focuses on implementing the western region expansion scheme XXXIII, Part-C. This project entails establishing two substations in Madhya Pradesh: a 2?1,500 MVA capacity substation at 765/400 kV and a 2?500 MVA capacity substation at 400/220 kV, accompanied by a line-in and line-out single-circuit 765 kV D/C line extending around 18 kms.

These substations are strategically placed to fulfill the power needs of the planned green hydrogen facility and cater to the electrical loads in Chhatarpur, Tikamgarh, and Jatara regions. Additionally, they play a crucial role in connecting the 630 MW NTPC Barethi Solar Plant.

In December 2023, IndiGrid successfully raised Rs 6.7 billion through a SEBI-compliant institutional placement process. Furthermore, in October 2023, the company secured a 20 MW/40 MWh battery energy storage system project in Delhi.