Reportedly, IndiGrid has signed agreements to acquire equity stakes in ReNew Solar Aayan Private Limited (RSAPL) and Koppal Narendra Transmission Limited (KNTL) in two separate transactions from ReNew Solar Power Private Limited and its affiliates.
RSAPL is a 300 MW operational solar power project located in Barmer, Rajasthan and was commissioned in March 2024. The project has a 25-year power purchase agreement with Solar Energy Corporation of India Limited at a fixed tariff of Rs 2.37 per unit. Additionally, KNTL is an inter state transmission system project based in Karnataka under the build- own-operate-maintain model. It is jointly owned by ReNew Solar Power and KNI India, a joint venture between Norfund and KLP. The total enterprise value for both transactions stands at Rs 21.08 billion