IndiGrid to acquire ReNew assets in Rajasthan & Karnataka

ReNew Solar Power and KNI India sold 300 MW ReNew Solar Aayan and 276 km Koppal Narendra Transmission to IndiGrid in Rajasthan and Karnataka under agreements.

By Prudhvi Rani 07 Jun 2025 in Market Bytes

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ReNew Solar Aayan was acquired by IndiGrid to strengthen its renewable asset base in Barmer, Rajasthan under a fixed 25-year PPA. Image Credit/Source: Kelly/Pexels

IndiGrid, India's power sector, has signed a definitive agreement to acquire two assets for INR 2,108 crore (~$245.78 million)—a 300 MW (AC) solar plant in Barmer, Rajasthan, and the Koppal Narendra Transmission project in Karnataka. The solar project, ReNew Solar Aayan, was commissioned in March 2024 and has a 25-year PPA with SECI at INR 2.37/unit (~$0.2). It is a 100% subsidiary of ReNew Solar Power and is located near RSUPL, another IndiGrid asset. The transmission asset was operationalised in October 2023 and includes 276 circuit km of lines and 2,500 MVA capacity. It is jointly owned by ReNew Solar Power (51%) and KNI India (49%), a Norfund-KLP joint venture. IndiGrid will acquire full ownership of both, subject to regulatory approvals.

#Karnataka #Rajasthan #KNIIndia #ReNewSolarPower #IndiGrid

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