IndiGrid has acquired 100 per cent stake in two solar assets with 100 MW capacity from Fotowatio Renewable Ventures (FRV) for Rs 6.6 billion.
The 100 MW assets are fully operational and located in the 400-MW Ananthapuramu solar park in Andhra Pradesh. The projects have been operational for over two years. The acquisition is in line with IndiGrid’s plan to acquire solar projects with long term power purchase agreements, operational track record and financially strong counterparties such as Solar Energy Corporation of India and NTPC Limited. With this acquisition, IndiGrid’s asset portfolio has expanded to 14 projects and the current deal marks the first renewable energy acquisition by any InvIT in the country.