IndiGrid Aims to Double Assets to ₹60,000 Crore by 2030, Focusing on Transmission and Renewable Energy – EQ
In Short : KKR-backed IndiGrid plans to double its assets to ₹60,000 crore by 2030, focusing on transmission, solar energy, and battery storage. The company aims for 25-30% of its portfolio to consist of renewable energy assets. To finance growth, IndiGrid will maintain a balanced capital structure with a debt-to-assets cap of 70%, targeting significant investments in India’s power sector.
In Detail : IndiGrid, the KKR-backed Infrastructure Investment Trust (InvIT), has set an ambitious target of doubling its assets to ₹60,000 crore by 2030. This growth strategy will focus on expanding its portfolio in the transmission sector, solar energy, and battery energy storage systems (BESS). Currently, IndiGrid’s portfolio is valued at ₹30,000 crore, with assets including 22,500 MVA of transformation capacity, 8,700 kilometers of transmission lines, 1 GW of solar generation capacity, and 1 GWh of battery energy storage.
Managing Director Harsh Shah emphasized the company’s commitment to sustainable growth and innovation within the power sector. He noted that while IndiGrid is considering diversification into solar energy, it remains cautious and focuses primarily on sectors it understands well. The company’s long-term goal is to have around 25–30% of its assets in renewable energy, with the rest focused on transmission and energy storage, in line with sector guidelines.
To fund this ambitious expansion, IndiGrid aims to maintain a capital structure that balances debt and equity. The company has set a debt-to-assets-under-management (AUM) cap of 70%. As of Q3 FY25, IndiGrid’s leverage stood at 59.6%, providing sufficient room for future growth. Shah mentioned the importance of proactively raising funds, particularly when the leverage reaches the 66–67% threshold, to ensure adequate funding for expansion.
IndiGrid’s expansion strategy also aligns with the Indian government’s broader energy goals. The National Electricity Plan foresees an investment of over ₹9 lakh crore in transmission and battery energy storage systems by 2032. This investment is expected to support the evacuation of 500 GW of renewable energy. The government also anticipates a 35% increase in peak power demand by 2030, underscoring the need for substantial infrastructure investments in transmission and energy storage.
Shah further highlighted the significant opportunity in the power transmission sector, particularly in light of India’s growing energy needs. With rising demand and the transition to renewable energy, the focus on transmission and energy storage is critical to supporting the country’s energy security. IndiGrid’s portfolio is well-positioned to capitalize on these trends, offering predictable returns to its investors.
IndiGrid’s strategic approach is in line with India’s evolving energy transition objectives. By focusing on areas with stable returns and adhering to a disciplined investment approach, the company aims to contribute to the country’s renewable energy goals while delivering sustainable value to its stakeholders. Through this growth strategy, IndiGrid seeks to solidify its role as a key player in India’s power sector.
