IndiGrid, the first infrastructure investment trust (InvIT) in the power sector, announced that it has completed acquisition of two power transmission assets from Sterlite Power for an enterprise value of `5,025 crore. These two assets are NRSS XXIX Transmission (NTL) and Odisha Generation Phase-II Transmission (OGPTL). IndiGrid had signed definitive documents to acquire the two assets in April 2019.
Shares of IndiGrid closed Monday’s trading session 4.30% up, at `89.60. Following the acquisition, IndiGrid’s AUM has increased from `5,220 crore to `10,660 crore, according to the release. It owns eight operating projects consisting of 18 transmission lines with more than 4,900 circuit km (ckm) length and four sub-stations with 7,735 MVA transformation capacity.
