India Grid Trust buys three power assets from its sponsor

The India Grid Trust has approved the acquisition of three power transmission assets comprising five transmission lines from Sterlite Power Grid Ventures Limited, the sponsor of the InvIT. The India Grid Trust will acquire the assets for Rs 14.9 billion. This has resulted in a 40 per cent increase in the assets under the management of the India Grid Trust from Rs 38 billion to Rs 53 billion. The assets, with a contractual life of 34 years, have been awarded on a build-own-operate-maintain model. With the acquisition, India Grid’s portfolio now comprises 13 transmission lines and two substations spanning eight states in the country.