India Grid Trust (IndiGrid), India’s first infrastructure investment trust (InvIT) in the power sector, foresees a healthy acquisition pipeline thanks to large-scale tendering of power transmission schemes.
In an investor presentation discussing the financial performance in FY21, IndiGrid said that it expects Rs.50,000 crore worth of interstate and Rs.45,000 crore of intrastate power transmission projects to be awarded under the tariff-based competitive bidding (TBCB) mechanism, over the next 3-4 years. This will create a healthy acquisition pipeline, IndiGrid said.
In the ongoing fiscal year, FY22, interstate power transmission projects worth Rs.15,000 crore are expected to come up for bidding, IndiGrid said.
AUM
In FY21, IndiGrid added around Rs.6,900 crore worth of assets to its portfolio, taking its total AUM (assets under management) to over Rs.20,550 crore, as of March 31, 2021.
Key acquisitions during FY21 included IndiGrid’s first “cost-plus” asset, Parbati Koldam Transmission Company Ltd, which has Power Grid Corporation of India (PGCIL) as a 26 per cent shareholder. IndiGrid holds 74 per cent, which was acquired from the previous owner Reliance Infrastructure Ltd.
IndiGrid also acquired an intrastate power transmission asset, which was jointly owned by Kalpataru Power Transmission and Techno Electric Engineering.
17 states and 1 UT
IndiGrid’s portfolio, as of March 31, 2021, cover 40 transmission lines, spanning 7, 570 ckm. The portfolio also includes 11 substations with aggregate transformation capacity of 13,550 MVA.
