IndiGrid and development finance institutions British International Investment and Norfund are working together to create the EnerGrid platform. The partnership will lead to development of greenfield transmission and battery energy storage system projects in India.
The trio have committed to investing a collective $300 million in the EnerGrid platform, with approximately $100 million coming from each partner, according to a statement from IndiGrid.
“This partnership will help to attract more private capital into a critical sector, which will facilitate the growth of renewable energy supply to meet growing energy demand sustainably and accelerate India’s journey towards a greener future,” said Srini Nagarajan, managing director and head of Asia for British International Investment.
Headquartered in Mumbai, IndiGrid is an infrastructure investment trust that aims to deliver reliable energy across India through its power transmission and renewable energy portfolio. The EnerGrid platform will focus on projects worth roughly $1.2 billion. Once commercial operations begin, IndiGrid will fully acquire those projects.
