IndiGrid, an Infrastructure Investment Trust (InvIT) in India, has completed its $631 million acquisition of the NER-II Transmission special-purpose vehicle in the far north-east of the country, taking it off Sterlite Grid’s hands. This brings IndiGrid’s total assets to $2.8 billion, making the trust a major player in India’s Inter-State Transmission Scheme (ISTS) network, of which NER-II is part. NER-II is a yet-to-be-constructed expansion of the grid in Tripura, Assam and Arunachal Pradesh – the latter of which is India’s furthest-east state. This mountainous and remote part of India – NER stands for North Eastern Region – is one of the nation’s most challenging for grid development. The transmission development project was awarded with a contractual period of 35 years,…