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Mu India Grid Trust (IndiGrid), an infrastructure investment trust, has completed the acquisition of East North Interconnection Company Limited Limited (ENICL) from Sterlite Power for $134 million.
With this acquisition, IndiGrid’s AUM will increase by 10 per cent to ₹12,100 crore or $1.6 billion, it said in a filing to the exchanges. Also, IndiGrid’s portfolio will increase to nine power transmission projects,with a total network of 20 power transmission lines spanning across more than 5,800 circuit km across 13 States, the filing added.
Harsh Shah, Chief Executive Officer of IndiGrid, said: “This acquisition is in line with our strategy to acquire accretive assets with long term certainty of cash flows. Our focus is to not only ensure stable distribution to unit holders by owning assets with long-term contracts but also grow it with accretive acquisitions.”
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