This innovative partnership is developing transmission and battery storage projects across India.
Significant investment is needed for India to meet its ambitious climate targets by 2070, as the country balances rapid economic growth with the need to cut emissions. Achieving this goal requires a massive scale-up of renewable energy generation, but just as crucial is the infrastructure enabling clean power to reach homes and businesses.
At the same time, as demand rises and the power mix shifts towards renewables, India’s energy transition is being held back by a lack of transmission capacity. To meet its climate and energy goals, India needs to build 170,000 circuit kilometres of new transmission lines and 47GW of battery storage over the next eight years.
In 2024, in partnership with Norfund and IndiGrid, we launched EnerGrid, a $300 million platform to develop greenfield transmission and standalone battery energy storage system projects in India. IndiGrid brings its home-grown understanding of the Indian power transmission sector to the partnership, and BII and Norfund provide access to capital. Each partner is committing around $100 million, with the aim of supporting projects worth up to $1.2 billion. The first phase is already under way, with BII and Norfund investing in three existing IndiGrid transmission projects. After the projects become operational, they will be fully acquired by IndiGrid at a pre-agreed enterprise value, helping to accelerate India’s progress towards net zero.
Caption – India needs to build 170,000 circuit kilometres of new transmission lines over the next eight years.
