IndiGrid completes acquisition of 2 transmission assets

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.