IndiGrid acquires another Sterlite transmission line for ₹1,020 crore
MUMBAI : IndiGrid, a listed infrastructure investment trust (InvIT) for power transmission lines, has approved the acquisition of East North Interconnection Company Ltd Transmission Company Limited (ENICL), at a value of ₹1,020 crore from Sterlite Power Transmission Ltd, a press release from the company said. This acquisition would increase the value of IndiGrid’s assets under management by 10% to ₹12,100 crore.
ENICL is part of Inter State Transmission Scheme (ISTS) network and consists of two 400 KV transmission lines with a total roughly 900 circuit km across Assam, Bihar and West Bengal. It is a strategic asset which is crucial for power exchange across north eastern and eastern region of India. IndiGrid’s portfolio will increase to nine power transmission projects with a total network of 20 power transmission lines that span more than 5,800 circuit km across 13 states post this acquisition.
