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Business

Parbati Koldam buy to add Rs 900 cr to assets: India Grid

Updated : December 02, 2020 11:10 AM IST

India Grid Trust has acquired a 74 percent stake in Parbati Koldam Transmission Company. Harsh Shah, CEO and Whole-Time Director, IndiGrid spoke to CNBC-TV18 about the details of the acquisition.

“Today our overall portfolio is approximately Rs 14,000 crore. Once we complete this acquisition – we have just signed the agreements, the acquisition is subject to approvals – it will add about another Rs 900 crore to our assets. So we will reach approximately Rs 15,000 crore,” he said.

“This asset belongs to Reliance Infrastructure, it is a joint venture with Power Grid and it is a regulated return asset under a transmission platform,” Shah said.

“We are focussed on power transmission. We are looking to do a little bit of solar but our main portfolio remains power transmission. Within that we have acquired several assets starting from state transmission asset, inter-state asset from Sterlite Power and now this which is again a regulated RoE inter-state asset,” he said.

On targeted assets under management (AUM), he said, “We are targeting approximately Rs 30,000 crore of AUM in next couple of years. It is a broad vision.”

For more, watch video...

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