HICL Infrastructure PLC has announced an agreement to acquire a 45.75% stake in US power transmission asset Texas Nevada Transmission LLC (TNT). 

The deal, the transaction value for which was not disclosed, is expected to close before the end of the fiscal year on March 31, 2023. Through this acquisition, HICL will also acquire a 45.75% stake in power transmission company Cross Texas Transmission LLC ("CTT") and a 45.75% stake in Great Basin Transmission South LLC ("GBTS").

The investment sees HICL partnering with LS Power, a US electricity system developer and operator that developed more than 13 GW of power generation and over 660 miles of transmission infrastructure. LS Power has significant indirect shareholdings in both CTT and GBTS.