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IndiGrid acquires a 100% stake in Khargone Transmission

Published on January 24, 2023
Current Context: A 100% share in Khargone Transmission Limited will be purchased by India Grid Company (IndiGrid), an infrastructure investment trust in the Indian power sector, for about Rs 1,497.5 crore.
IndiGrid acquires a 100% stake in Khargone Transmission
  • To purchase a 100% shareholding and economic interest in Khargone Transmission Limited (in one or more tranches), IndiGrid and Sterlite Power Transmission Limited, one of IndiGrid's sponsors, entered into a share purchase agreement.
  • The transmission project was given a BOOM (Build Own Operate Maintain) award by the Ministry of Power (MoP) for 35 years beginning on the planned commercial operation date.
  • The transmission project consists of six components. The project components are three transmission line elements, one Line in Line out (LILO) element, one line bay, and one substation element. It is situated in Maharashtra, and Madhya Pradesh (MP) states.
  • The project intends to increase electricity supply and grid stability by transferring 1320 megawatts (MW) of thermal energy from the Khargone power plant to consumers in the residential, commercial, agricultural, and industrial segments in Madhya Pradesh and Maharashtra.
  • India Grid Trust:
    • IndiGrid is India’s 1st and largest Infrastructure Investment Trust (InvIT) in the power transmission sector.
    • Chief Executive Officer and Whole-time Director- Harsh Shah
    • Headquarters- Mumbai, Maharashtra
    • Establishment- 2016

Question:

Q.1 Which company will purchase a 100% share in Khargone Transmission Limited for about Rs 1,497.5 crore?
a. India Grid Company (IndiGrid)
b. Khargone Power Company
c. Indian Power Sector Investment Trust
d. National Grid Company of India
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