IndiGrid operationalizes its first greenfield project Kallam Transmission Limited
IndiGrid [BSE: 540565 | NSE: INDIGRID], India’s first and largest listed power sector infrastructure investment trust (InvIT), today announced that it has operationalized its first greenfield project – Kallam Transmission Limited (KTL) – at Beed, Maharashtra.
The project was won by IndiGrid in December 2021 through the Tariff Based Competitive Bidding (TBCB) mechanism and has been developed on Build, Own, Operate and Maintain (BOOM) basis for a period of 35 years. The project was granted approval for energization by the authorities on 6th February 2024 and was put to use.
KTL consists of one substation of 2 x 500 MVA capacity with 400/220 kV voltages, as well as 10 Bays with a LILO multi circuit line of ~18 kms. It will enable evacuation of 1 GW of power from renewable energy projects in Dharashiv area of Maharashtra and will play a key role in strengthening the transmission system of the state by improving the grid availability for evacuation & integration of renewable energy. In November 2022, IndiGrid was also awarded augmentation work in the KTL project to enable evacuation of an additional 1 GW of renewable power under the Regulated Tariff Mechanism (RTM).
With evolving expertise, IndiGrid has won five more greenfield projects on TBCB basis in the states of Maharashtra, New Delhi, Gujarat, and Madhya Pradesh.
Commenting on the acquisition, Harsh Shah, Chief Executive Officer, and Whole Time Director of IndiGrid, said, “We are delighted to commence the operation of KTL which is our first foray in the greenfield transmission space. We have built sizable execution expertise which enables us to participate in the substantial transmission bidding pipeline on TBCB route. As IndiGrid gears to enter more greenfield opportunities, this project has equipped us with valuable learnings and positions us well for further wins.
We are also immensely thankful to the Honorable Prime Minister, the PMO and the Ministry of Power for recognizing KTL as a key contributor towards the renewable energy journey of our nation as it will enable evacuation of 2 GW of renewable energy.”
About IndiGrid:
IndiGrid [BSE: 540565 | NSE: INDIGRID] is the first Infrastructure Investment Trust (“InvIT”) in the Indian power sector. It owns 37 power projects, consisting of 46 transmission lines with more than ~8,468 ckms length, 13 substations with ~17,550 MVA transformation capacity and ~855 MWAC (~1.1 GWp) of solar generation capacity. IndiGrid has assets under management (AUM) of over ~₹ 282 billion (~USD 3.4 billion). The investment manager of IndiGrid is wholly owned by KKR.
