IndiGrid acquires ReNew’s Gadag ISTS project for Rs 3.72 billion

IndiGrid has signed definitive agreements to acquire Gadag Transmission Limited (GTL), an interstate transmission system (ISTS) asset in Karnataka, from ReNew, for a consideration of Rs 3.72 billion. The deal also includes an earn-out component linked to change-in-law claims, availability metrics and bilateral billing adjustments. GTL is a build-own-operate-maintain project, developed as part of the first phase of the transmission scheme to evacuate 2,500 MW of solar power from the Gadag solar energy zone. The asset includes 187 ckt km of transmission lines and a 1,000 MVA substation.