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IndiGrid, an infrastructure investment trust (InvIT), has completed the acquisition of three assets from Sterlite Power Grid Venture Ltd.
The trust has also bought 46% stake in the transmission asset of Techno Electric & Engineering Company. The asset, Patran Transmission Company Limited, has a sub-station in Patran, Punjab, and transmission lines that connect Kaithal-Patiala.
The three assets from Sterlite Power will cost approx Rs.1,410 crore, while the company will acquire the Patran stake for Rs.230 crore. Post acquisition, IndiGrid’s total portfolio increases to 13 transmission lines and 2 substations operational across 8 states in India. Furthermore, the three assets from Sterlite Power consists of 5 transmission lines, aggregating 1,425 km.
