Energrid Plans Rs 40 Billion Fundraise For Green Projects

15 Oct 2025 CW Team

Energrid, the greenfield transmission and battery energy storage platform launched in November 2024, is planning to raise between USD 450–500 million (Rs 39.9–44.4 billion) to finance a new wave of infrastructure projects across India.

The platform, established by IndiGrid, the KKR-owned infrastructure investment trust, in partnership with British International Investments (BII) and Norfund, aims to channel the funds into greenfield transmission networks, standalone battery energy storage systems (BESS), and select renewable energy ventures.

Avendus Capital and the Ambit Group have been appointed as financial advisors to manage the fundraising exercise.

Energrid has already established its presence in India’s battery storage sector. In July 2025, it commissioned India’s first large-scale utility BESS project in Gujarat, developed in collaboration with Gujarat Urja Vikas Nigam Limited (GUVNL). The 180 MW / 360 MWh facility received Rs 4.6 billion in debt financing from the International Finance Corporation (IFC).

The company’s business model envisions IndiGrid acquiring operational projects from Energrid at pre-agreed valuations, enabling IndiGrid to expand its renewable transmission and storage portfolio.

The move follows IndiGrid’s recent acquisitions in Karnataka, where it purchased Renew Solar Aayan and Koppal Narendra Transmission for a combined Rs 21.1 billion, further consolidating its position as one of India’s leading energy infrastructure investors.

With Energrid’s capital raise and project pipeline, the platform aims to accelerate India’s clean energy transition, supporting the development of next-generation grid infrastructure and energy storage capacity critical for integrating renewable power into the national network.

Infrastructure Urban

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