Power InvIT jumps after partnering with IFC to build India’s largest energy storage project

During Thursday’s trading session, shares of India’s first listed power sector infrastructure investment trust, sponsored by KKR and Sterlite Power, are in focus on the stock exchanges, after entering into a partnership with International Finance Corporation (IFC) to build India’s largest Battery Energy Storage Systems (BESS) project.

With a market cap of Rs. 12,918 crores, the shares of IndiGrid Infrastructure Trust hit an intraday high at Rs. 155.1 on BSE, up by 0.12 percent, as against its previous closing price of Rs. 154.9. The stock has delivered positive returns of around 13 percent in one year, and has gained by more than 3 percent in the last month.

What’s the News

According to the latest regulatory filings with the stock exchanges, International Finance Corporation (IFC) and IndiGrid Infrastructure Trust have partnered to develop a 180 MW/360 MWh standalone BESS project in Gujarat. The project aims to strengthen the state’s push for clean energy by helping stabilise the power grid and ensuring electricity is reliably available when demand is highest.

To support the project, IFC has committed Rs. 460 crores (~$55 million) in long-term financing to IndiGrid, subscribing to listed non-convertible debentures. Of this, roughly $38.5 million comes directly from IFC, while the remaining $16.5 million is concessional financing provided by the Clean Technology Fund (CTF) one of the multi-donor trust funds under the World Bank-hosted Climate Investment Funds framework.

This investment, made during the quarter ending 30th June 2025, marks another step forward in the ongoing partnership between IFC and IndiGrid. It highlights their shared commitment to driving investment in clean, inclusive, and financially sustainable energy solutions. Since 2023, IFC has provided IndiGrid with a total debt line of Rs. 3,250 crores (about $380 million).

International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

Financials & more

IndiGrid reported a significant growth in its revenue from operations, showing a year-on-year rise of around 11 percent from Rs. 812 crores in Q4 FY24 to Rs. 901 crores in Q4 FY25. Similarly, its net profit increased during the same period from Rs. 58 crores to Rs. 117 crores, representing an impressive rise of about 102 percent YoY.

IndiGrid is India’s first and largest publicly listed Infrastructure Investment Trust (InvIT) in the indian power sector. It owns, operates, and manages power transmission, renewable generation, and energy storage assets that deliver reliable power throughout India.

It currently manages a portfolio of 43 power projects across India. This includes 53 transmission lines stretching over 9,300 circuit kilometres, 16 substations with ~25,050 MVA transformation capacity, ~1.15 GWAC (~1.5 GWp) of solar generation capacity, and 450 MW/900 MWh of BESS. In total, IndiGrid has assets under management (AUM) worth more than Rs. 31,900 crores (~$3.7 billion). 

Written by Shivani Singh

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