IndiGrid InvIT to acquire Fotowatio Renewable Ventures’ solar assets for Rs 700 crore

Power Transmission Infrastructure Investment Trust (InvIT) IndiGrid is close to acquiring Fotowatio Renewable Ventures’ solar assets worth Rs 700 crore. This deal will mark IndiGrid’s foray into renewable energy.

They will be acquiring 135 megawatt of solar energy assets based in Andhra Pradesh. The solar asset that will be acquired also has a power purchase agreement (PPA) with the central government’s Solar Energy Corporation of India.

The infrastructure investment trust on Thursday announced a multi-year collaboration agreement with IBM to build an artificial intelligence (AI)-enabled asset management platform.

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Source: cnbctv18