M&A
IndiGrid to acquire ReNew Solar Aayan, Koppal Transmission for Rs.2,108-Cr
Yourstory Koppal Narendra Transmission
Mumbai-based infrastructure investment trust (InvIT) IndiGrid is to acquire 100% stake in ReNew Solar Aayan and Koppal Narendra Transmission , for about INR 2,108 crore.The acquisition is to be funded through a combination of equity, internal accruals, and debt.Operational since March 2024, ReNew Solar Aayan Private Ltd (RSAPL), a 100% subsidiary of ReNew Solar Power Pvt Ltd, is a 300 MW (AC) operational solar power project located in Barmer, Rajasthan.Operational since October 2023, Koppal Narendra Transmission Ltd (KNTL) is a build-own-operate-maintain inter-state transmission system project located in Karnataka jointly owned by ReNew Solar Power Pvt Ltd (51%) and KNI India (49%), a joint venture between Norfund and KLP.
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