CHAPTER 10IndiGrid
By Harsh Shah (CEO and Board Member)
About IndiGrid
IndiGrid is the first Infrastructure Investment Trust (InvIT) in the Indian power sector. It owns 13 operating projects consisting of 40 transmission lines with more than 7,570 circuit kilometers length and 11 substations with ~13,550 MVA (Million-Volt Amps) transformation capacity. IndiGrid has assets under management (AUM) worth ~INR 20,000 Cr (USD 2.70 billion). The investment manager of IndiGrid is majority owned by KKR.
Backdrop
The outbreak of the COVID-19 pandemic was the largest economic shock the world has witnessed in decades, causing a collapse in global economic activity despite the unprecedented support policies of governments and organizations. The COVID-19 pandemic not only brought to the fore business challenges from a commercial point of view, but it also shook us out of our state of inertia to examine business policies and question the sustainability of historic business models from an environmental, social, and governance point of view.
With favorable oil prices, positive global momentum, and an upswing in domestic manufacturing, the Indian economy was progressing well toward achieving the vision of a USD 5 trillion economy. According to International Monetary Fund (IMF) data, India's GDP grew by 4.2% in financial year 2019–20, higher than the emerging markets and developing economies’ collective GDP growth of 3.7% in the same year. However, due to the impact of the pandemic and the ...
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