IndiGrid Infrastructure Trust Limited has agreed to acquire Gadag Transmission Ltd for approximately ₹372 Crore, enhancing its renewable energy transmission portfolio in Karnataka.

Information on the Target

IndiGrid Infrastructure Trust Limited has entered into definitive agreements to acquire Gadag Transmission Ltd, a project valued at approximately ₹372 Crore, excluding net working capital and cash adjustments. Gadag Transmission Ltd operates as an inter-state transmission system under the build-own-operate-maintain model, contributing significantly to the transmission infrastructure necessary for solar energy evacuation from the Gadag Solar Energy Zone in Karnataka.

The project has been operational since September 2024, featuring approximately 187 circuit kilometers of transmission lines and a 1,000 MVA substation. This venture marks the first phase of a broader strategy aimed at facilitating the evacuation of nearly 2,500 MW of solar power.

Industry Overview in Karnataka

Karnataka has positioned itself as a leader in renewable energy production in India, particularly due to its favorable climatic conditions and government initiatives to promote