IndiGrid to acquire Gadag Transmission for enterprise value of Rs 372 cr

IndiGrid on Tuesday signed an agreement to acquire an inter-state transmission (ISTS) project in Karnataka for an enterprise value of Rs 372 crore.

Gadag Transmission Limited (GTL) is a build-own-operate-maintain project, and its first phase is envisaged to evacuate around 2,500 MW of solar power from the Gadag Solar Energy Zone in Karnataka, IndiGrid said in a statement.

Operational since September 2024, the asset comprises 187 circuit kilometres of transmission lines and a 1,000 MVA (megavolt ampere) substation, with scope for future augmentation.

GTL is jointly owned by ReNew Transmission Ventures (51 per cent stake) and KNI India (49 per cent stake).

This acquisition will be funded through a combination of equity, internal accruals, and debt, IndiGrid said.

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