Norway’s Climate Investment Fund invests Rs 900 million in Karnataka’s transmission project

The new Norwegian Climate Investment Fund, managed by Norfund, together with KLP, has made the first investment of Rs 900 million in an Indian transmission project in Karanataka being developed by ReNew Power.

Norfund and KLP will invest around Rs 900 million for 49 per cent ownership stake in ReNew’s transmission project in Koppal, Karnataka with ambitions for further joint investments. The Norwegian investment in Karnataka will connect 2.5 GW of renewable capacity connected to the national grid. The project will consist of a 5 x 500 MVA 400/220 kV sub-station at Koppal with 400 kV D/C quad moose transmission line from Koppal substation to Narendra new substation and 400 kV gas-insulated switchgear (GIS) Extension at Narendra New in Karnataka (Koppal Project). Its commercial operations are expected to start in the first quarter of 2023-24.