EnerGrid: Pioneering Green Transmission in India

IndiGrid, in conjunction with UK-based BII and the Norwegian Climate Investment Fund, is launching EnerGrid, a USD 300-million platform targeting greenfield transmission and standalone battery energy storage projects in India. Each party has pledged USD 100 million, with IndiGrid acquiring completed projects.

IndiGrid has partnered with UK-based finance institution BII and Norway's Climate Investment Fund to establish EnerGrid, a new platform dedicated to developing transmission and battery energy storage systems in India.

The three entities have each committed USD 100 million to the platform, according to a statement by India Grid Trust (IndiGrid).

EnerGrid aims to bid on and develop greenfield transmission and standalone battery energy storage system projects. Once operational, these projects will be fully acquired by IndiGrid at a pre-agreed enterprise value, a move seen as pivotal for India's power sector transformation.

(With inputs from agencies.)