Norfund and KLP to invest $9m in ReNew Power-backed Gadag Transmission.

Norfund, a private equity company, and KLP, an Oslo-based mutual insurance company, agreed to invest $9m in ReNew Power-backed Gadag Transmission, a transmission company. “Through the investment, we are helping to connect 2.5 GW of planned expanded solar and wind power in the south of the country to the national grid”, Bjørnar Baugerud, Norfund Head of Climate Investment Fund.