IndiGrid to acquire ReNew Solar Aayan, Koppal Transmission for Rs 2,108 Cr

India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT), has announced the acquisition of Renew Solar Aayan Private Limited and Koppal Narendra Transmission Limited in two separate deals for a combined enterprise value of approximately Rs 2,108 crore. The acquisition includes a 300 MW operational solar project in Rajasthan and an inter-state transmission system project in Karnataka. The solar project benefits from a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI), ensuring stable, long-term revenue. This strategic acquisition significantly expands IndiGrid's renewable energy portfolio and strengthens its presence in the power transmission sector. The move aligns with the company's strategy of acquiring operational and revenue-generating infrastructure assets. This transaction highlights the growing trend of consolidation in India's renewable energy sector and the increasing role of InvITs in financing and managing critical infrastructure assets.