IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have launched EnerGrid, a $300 million platform focusing on developing greenfield transmission and standalone Battery Energy Storage System (BESS) projects in India.

Earlier this year, IndiGrid announced the company’s first phase of this partnership, under which BII and Norfund invested in three of IndiGrid’s existing greenfield transmission projects.

IndiGrid, Norfund, and BII plan to invest $100 million each in the platform. This capital will enable EnerGrid to target projects worth approximately $1.2 billion over the next few years.

After starting commercial operations, IndiGrid will fully acquire these projects at a pre-agreed enterprise value.

IndiGrid said India’s transmission sector is seeing a significant uptick in its bidding and development momentum on the back of the rise in the country’s increasing power demand, changing energy mix, and focus on energy transition. According to the latest estimates released by the Central Electricity Authority, India will require an additional 170,000 circuit kilometers (ckm) of transmission lines and 47 GW of BESS capacity over the next eight years to facilitate the evacuation of its growing generation capacity.

Indigrid has 49 transmission lines with a total network length of 8,700 ckm, 15 substations with 22,550 MVA transformation capacity, 1.1 GW of solar power capacity and 200 MW/400 MWh BESS capacity

In August, IndiGrid launched a preferential issue of shares priced at ₹136.43 (~$1.62) to raise approximately ₹6.95 billion (~$82.7 million). This move followed the successful conclusion of an Offer-for-Sale managed by its sponsor, KKR, which saw substantial interest from existing and new long-term investors.

The company reported consolidated revenue of ₹8.06 billion ($96.7 million) in the second quarter of the financial year 2025, a 16% year-over-year increase from ₹6.95 billion ($83.4 million).