KKR-backed India Grid Trust completed the acquisition of East North Interconnection from Sterlite Power for $134m.

KKR-backed India Grid Trust, an invIT, completed the acquisition of East North Interconnection, an electricity transmission company, from Sterlite Power, an electric power transmission company, for $134m. “This acquisition is in line with our strategy to acquire accretive assets with long term certainty of cash flows. Our focus is to not only ensure stable distribution to unit holders by owning assets with long term contracts but also grow it with accretive acquisitions. IndiGrid has another $855m pipeline of transmission projects under the framework agreement with Sterlite Power providing visibility of $2.4bn of AUM over next two years," Harsh Shah, India Grid CEO.