For indicative value of Rs 4625 crore
India Grid Trust signed a share purchase agreement to acquire NER-II Transmission from Sterlite Power as part of the Framework Agreement. The indicative value of the acquisition is Rs 4625 crore (subject to closing adjustments) and would boost IndiGrid's AUM by 34% to over Rs 20000 crore (USD 2.8 Bn). Post completion, the platform's asset portfolio would consist of 13 power transmission projects, with a total network of 38 power transmission lines and 11 substations extending over ~7,570 circuit kilometers & 13,350 MVA in 17 Indian states and 1 Union Territory.NER-II is part of Inter State Transmission Scheme (ISTS) network, and was awarded on a Build, Own, Operate, Maintain (BOOM) basis with a contractual period of 35 years. The project has 11 elements including two substations of 1,260 MVA capacity and four transmission lines extending over ~830 circuit kilometers. The asset spans across Assam, Arunachal Pradesh and Tripura and is of strategic importance for the delivery of power in one of the toughest regions in the country. This project will strengthen the power transmission network in the North Eastern States and address the of transmission, sub-transmission, and distribution system needs of the region.
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