Indigrid

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India Grid Trust (IndiGrid) is India’s first and largest power sector infrastructure investment trust, a yield platform comprising thirteen transmission assets and two solar assets (which are not included in the IFC’s investment), aggregate assets under management (AUM) of US$2.6 billion across 19 states spanning across 7,790 ckms (42 lines), transformation capacity of 14,550 million volt-amps or MVA (12 sub-stations) and 100 MW (AC) of renewable capacity. It is sponsored by Esoteric II Pte Ltd (an affiliate of Kohlberg Kravis Roberts, KKR), a leading global investment firm. The proposed IFC investment consists of debt investment of US$335 million comprising an A-Loan of up to US$150 million and mobilization of up to US$185 million. IFC’s proceeds will be directed to 5 Transmission Line assets namely:Jabalpur Transmission Company Limited or JTCL (994 km, 2 lines, commissioned in 2015).Purulia Kharagpur Transmission Company Limited or PKTCL (546 km, 2 lines, commissioned in 2017). RAPP Transmission Company Limited or -RTCL (403 km, 1 line, commissioned in 2016).Maheswaran Transmission Line or MTL (474 km, 2 lines, commissioned in 2017).Odisha Generation Phase-II Company Limited or OGPTL (713 km, 2 lines, commissioned in 2017). These 5 assets were selected from a list of 13 assets in the invIT portfolio, based on an initial Environmental and Social (E&S) Screening and thereafter an Environmental and Social Due Diligence (ESDD) conducted by a third-party consultant.