India Grid Trust (IndiGrid) and Sterlite Power Transmission Limited (SPTL or Project Manager) have decided to discontinue Project Manager services from SPTL for IndiGrid Project SPVs except for NER II Transmission Limited (NER). Accordingly, the Investment Manager has executed the Deed of Termination for existing Project Implementation & Management Agreement (PIMA) and a separate PIMA for NER on June 30, 2021.
Pursuant to the approval of Board of Directors of Investment Manager, IndiGrid has appointed IndiGrid Limited (IGL) as Project Manager for all Project SPVs. Accordingly, the Investment Manager has executed PIMA with IGL for its appointment as a Project Manager for all Project SPVs with the effect from June 30, 2021.
India Grid Trust are India’s first listed power sector infrastructure investment trust, sponsored by KKR and Sterlite Power. IndiGrid was established on October 21, 2016 and is registered with SEBI pursuant to the InvIT Regulations.
IndiGrid was established to own and operate power transmission and renewable energy assets in India. We own 13 operating projects, consisting of 38 EHV overhead power transmission lines, comprising seven 765 kV transmission lines, twenty-nine 400 kV transmission lines and two132 kV transmission lines, with a total circuit length of approximately 7,570 ckms and eleven substations with approximately 13,550 MVA of transformation capacity, across 17 states and 1 union territory, in India.
IndiGrid has assets under management worth of approximately ₹ 200,000 million as on March 31, 2021. IndiGrid Investment Managers Limited (formerly known as Sterlite Investment Managers Limited), is the investment manager of the InvIT and is majority owned by Electron IM Pte. Ltd., an affiliate of the KKR Sponsor.