Power sector's first InvIT IndiGrid acquires 3 more projects at Rs 1,490 cr

The three assets consist of five transmission lines, covering 1,425 kms

IndiGrid, first infrastructure investment trust (InvIT) in the power sector, has acquired three more projects of its sponsor, Sterlite Power Grid Ventures, for Rs 1,490 crore.

These acquisitions result in a 40 per cent increase in asset under management to Rs 5,300 crore, said the company. The three assets consist of five transmission lines aggregating 1,425 circuit km, thereby increasing the total portfolio of IndiGrid to 13 transmission lines and two substations, across eight states.

IndiGrid was floated with two assets of Sterlite – Jabalpur Transmission Company and Bhopal Dhule Transmission Company. It has now acquired RAPP Transmission Company, Purulia