IndiGrid has signed definitive agreements to acquire Gadag Transmission Limited (GTL) an inter-state 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 circuit kilometres of transmission lines and a 1,000 MVA substation.