India Grid Trust announced the completion of acquisition of 100% stake in two solar assets with cumulative capacity of 100 MW (AC) from Fotowatio Renewable Ventures (FRV) at an enterprise value of Rs 660 crore.
With this acquisition, the InvIT's asset portfolio will now consist of 14 diversified power projects consisting of 40 transmission lines (~ 7,570 ckms) ,11 substations (~13,550 MVA capacity) and 100 MW of solar power plants across 18 states and one Union Territory.
IndiGrid's acquisition of its first solar asset is an important milestone in the Indian infrastructure sector as this marks the first renewable energy acquisition by any InvIT in the country.
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