International Finance Corporation (IFC) and IndiGrid have partnered to develop a 180 MW/360 MWh standalone battery energy storage system (BESS) project in Gujarat. The project aims to support the state’s clean energy goals by improving grid stability and providing reliable power during peak demand.
IFC has committed $55 million in long-term financing to IndiGrid through a subscription to listed non-convertible debentures. This includes approximately $38.5 million from IFC’s own account and around $16.5 million in concessional support from the Clean Technology Fund, which operates under the World Bank-hosted Climate Investment Funds framework. The investment was made during the first quarter of financial year 2025-26 that ended on June 30, 2025, and is part of IFC and IndiGrid’s ongoing collaboration to promote clean energy infrastructure.
In June 2025, IndiGrid signed definitive agreements to acquire one operational solar project and one transmission project in separate transactions, with a total enterprise value of approximately Rs 21.08 billion.
