IndiGrid, IFC partner to build 180 MW/360 MWh battery storage project in Gujarat

International Finance Corp. (IFC) has committed INR 4.6 billion (around $55 million) in long-term financing to IndiGrid to support the deployment of a 180 MW/360 MWh standalone battery energy storage system project in Gujarat.

July 3, 2025 Uma Gupta

IndiGrid, in association with AmpereHour Energy and GEAPP, assisted BSES Rajdhani Power Ltd (BRPL) in commissioning a 20 MW/40 MWh BESS project in New Delhi

Image: GEAPP

IndiGrid, India’s first publicly listed power sector Infrastructure Investment Trust, and International Finance Corp. (IFC), a member of the World Bank Group, have partnered to develop a 180 MW/360 MWh standalone battery energy storage system project in Gujarat. The project will enhance grid stability and ensure power availability during peak demand, supporting Gujarat’s ambitious renewable energy targets.

IFC has committed INR 4.6 billion (around $55 million) in long-term financing to IndiGrid through a subscription to listed non-convertible debentures. This includes $38.5 million from IFC’s own account and $16.5 million in concessional support from the Clean Technology Fund (CTF)—one of the multi-donor trust funds under the World Bank-hosted Climate Investment Funds framework.

“Battery energy storage systems are central to the future of energy in India. They bridge the intermittency of renewables, reduce fossil fuel dependency, and unlock flexible, reliable power delivery,” said Harsh Shah, managing director, IndiGrid. “With IFC’s support, we are proud to lead the deployment of one of India’s first and largest BESS assets in Gujarat.”

Imad N Fakhoury, regional director for South Asia, IFC, said, “IndiGrid has been a trusted partner to IFC in advancing sustainable and inclusive infrastructure in India. Our latest investment supports Gujarat’s goal of achieving 100 GW of renewable capacity by 2030, and sets a replicable model for other states as they scale up next-generation commercially viable energy solutions.”

This investment, made during the quarter ended June 30, 2025, builds on an existing collaboration between IFC and IndiGrid. Since 2023, IFC has extended a cumulative debit line of INR 32.5 billion ($380 million) to IndiGrid.

IndiGrid owns 43 power projects, consisting of 53 transmission lines, 16 substations, , 1.15 GW AC (1.5 GWp) solar generation capacity, and 450 MW/900 MWh of battery energy storage systems. It has assets under management of over INR 319 billion ($3.7 billion). The investment manager of IndiGrid is wholly owned by KKR.

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