Investment firm KKR and Singaporean sovereign wealth fund GIC are to acquire up to 57 % of India Grid assets ( IndiGrid ) for around $ 400 m . investors and GIC investors pay $ 295 m for a 42 % stake in IndiGrid , with KKR then acquiring a 15 % stake from Sterlite Power Grid Ventures . The deal comes at a time of rapid growth in India 's electricity sector . The company is seeking to double its renewable energy capacity to 50 % by 2030 and will launch $ 5bn of transmission line tenders in June to transmit 175 GW of renewable power by 2022 .
Investment firm KKR and Singaporean sovereign wealth fund GIC are to acquire up to 57% of India Grid Trust (IndiGrid) for around $400m. KKR and GIC will pay $295m for a 42% stake in IndiGrid, with KKR then acquiring a 15% stake from Sterlite Power Grid Ventures. The deal comes at a time of rapid growth in India's power sector. The country is seeking to double its renewable energy capacity to 40% by 2030 and will launch $5bn of transmission line tenders in June to transmit 175 GW of renewable power by 2022.