IndiGrid will acquire ReNew Solar Aayan, a 300 MW Solar Project in Rajasthan, and Koppal Narendra Transmission in Karnataka for approximately Rs 2,108 crore, with enterprise value capped at Rs 2,175 crore. The solar asset has a 25-year PPA with SECI, while the transmission asset covers 276 km. The acquisitions, pending approvals, will be fully owned and managed by IndiGrid, funded via equity, internal accruals, and debt, with net debt/AUM rising to 62% post-acquisition.
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