IndiGrid Buys Solar, Transmission Assets Worth Rs 21 Billion

11 Jun 2025 CW Team

The solar asset, Renew Solar Aayan Private Ltd, is a 300 MW operational project located in Barmer, Rajasthan. Commissioned in March 2024, the plant has a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI) at a fixed tariff of Rs 2.37 per unit. It is a wholly owned subsidiary of ReNew Solar Power Private Ltd and is situated near another asset previously acquired by IndiGrid, enhancing operational synergies and strengthening IndiGrid's renewable portfolio.

The second acquisition, Koppal Narendra Transmission Limited (KNTL), is an inter-state transmission system project located in Karnataka. Operational since October 2023, KNTL includes approximately 276 circuit kilometres of transmission lines and 2,500 MVA of transformation capacity. Originally a joint venture between ReNew Solar Power (51 per cent) and KNI India (49 per cent)—a partnership between Norfund and KLP—IndiGrid will now assume complete ownership and management control of the asset.

IndiGrid stated that the transmission project’s location in a high-growth grid expansion region offers long-term augmentation potential. Both acquisitions are aligned with definitive and concession agreements and the PPA, including adherence to lock-in obligations.

Managing Director Harsh Shah commented that the acquired assets are of high quality and will enhance geographical presence, portfolio diversity, and distribution per unit (DPU) accretion.

IndiGrid currently holds 41 power projects, comprising 49 transmission lines spanning over 9,000 circuit kilometres, 15 substations with 22,550 MVA transformation capacity, 855 MWac of solar generation, and 450 MW of battery energy storage. Its total assets under management exceed USD 3.5 billion.

IndiGrid, a KKR-backed infrastructure investment trust, has announced the acquisition of two assets—one solar and one transmission—from ReNew Energy at a combined enterprise value of Rs 21.08 billion. The deal, funded through a mix of equity, internal accruals, and debt, will result in a net debt to AUM ratio of 62 per cent, maintaining sufficient headroom for future expansion.The solar asset, Renew Solar Aayan Private Ltd, is a 300 MW operational project located in Barmer, Rajasthan. Commissioned in March 2024, the plant has a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI) at a fixed tariff of Rs 2.37 per unit. It is a wholly owned subsidiary of ReNew Solar Power Private Ltd and is situated near another asset previously acquired by IndiGrid, enhancing operational synergies and strengthening IndiGrid's renewable portfolio.The second acquisition, Koppal Narendra Transmission Limited (KNTL), is an inter-state transmission system project located in Karnataka. Operational since October 2023, KNTL includes approximately 276 circuit kilometres of transmission lines and 2,500 MVA of transformation capacity. Originally a joint venture between ReNew Solar Power (51 per cent) and KNI India (49 per cent)—a partnership between Norfund and KLP—IndiGrid will now assume complete ownership and management control of the asset.IndiGrid stated that the transmission project’s location in a high-growth grid expansion region offers long-term augmentation potential. Both acquisitions are aligned with definitive and concession agreements and the PPA, including adherence to lock-in obligations.Managing Director Harsh Shah commented that the acquired assets are of high quality and will enhance geographical presence, portfolio diversity, and distribution per unit (DPU) accretion.IndiGrid currently holds 41 power projects, comprising 49 transmission lines spanning over 9,000 circuit kilometres, 15 substations with 22,550 MVA transformation capacity, 855 MWac of solar generation, and 450 MW of battery energy storage. Its total assets under management exceed USD 3.5 billion.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..