Mumbai: IndiGrid, India’s first power sector infrastructure investment trust (InvIT), has announced the acquisition of another transmission asset, East North Interconnection Company Ltd, from Sterlite Power at a value of Rs 1,020 crore.
With this acquisition, IndiGrid’s assets under management will increase by 10 per cent to about Rs 12,184 crore.
IndiGrid’s asset portfolio will increase to nine power transmission projects with a total network of 20 power transmission lines spanning across more than 5,800 circuit kilometres across 13 Indian states.
ENICL is a part of the Inter State Transmission System (ISTS) network developed by Sterlite Power. It consists of two 400 kilovolt transmission lines with a total 900 circuit kilometres across Assam, Bihar and West Bengal.
It is a strategic asset which is crucial for power exchange across northeastern and eastern region of India. IndiGrid had signed an extension of right of first offer agreement with Sterlite Power for ENICL in May last year.
