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 Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..