BII and Norfund partner with IndiGrid to launch $300 million greenfield energy project in India

IndiGrid has partnered with British International Investment (BII) and Norfund to create a new business called EnerGrid, focusing on greenfield transmission and battery energy storage projects in India. The partnership involves a $300 million investment, with each partner contributing $100 million. EnerGrid aims to develop projects worth approximately $1.2 billion in the coming years. Once operational, these projects will be acquired by IndiGrid at a pre-agreed value. This follows earlier investments by BII and Norfund in IndiGrid's existing transmission projects. The partnership was announced during COP29 and highlights the importance of investment in transmission infrastructure to support India's renewable energy goals. The collaboration seeks to attract more private capital to enhance energy supply and storage capacity in the country.