IndiGrid to Buy Kalpataru Power JV Asset for Rs 310 crore
MUMBAI: Private equity firm KKR backed infrastructure investment trust India Grid Trust, or IndiGrid, has signed an agreement to acquire a power transmission asset at Jhajjar in Haryana for Rs 310 crore from current owners Kalpataru Power Transmission and Techno Electric & Engineering Company.
IndiGrid aims to scale up its power transmission assets under management (AUM) to Rs 30,000 crore by 2022 and has plans to diversify into the solar power sector.
“This transaction is a major milestone and example of an accretive capital allocation process that KPTL has employed over the past several years. We are also progressing well on sale of other T&D assets and expect to close the same in FY21,” Manish Mohnot, managing firector and CEO, KPTL said.
