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At the COP29 climate summit, India’s listed power infrastructure investment trust, IndiGrid, along with British International Investment, and Norfund each committed $100 million to launch EnerGrid, which will bid for and develop energy transmission and battery storage projects.
The two development financial institutions and Indian power infrastructure developer Techno Electric invested in three of IndiGrid’s interstate transmission projects in August.
Strengthening energy infrastructure.
India’s energy demand is surging; the country will need an estimated 4.8 trillion rupees ($5.7 billion) by 2027 for additional transmission capacity. EnerGrid is looking to mobilize $1.2 billion for transmission projects in coming years, said Indigrid’s Harsh Shah. “The transmission sector is witnessing a bidding pipeline like never before, which we are looking to leverage to drive growth.”
