India Grid Trust (IndiGrid), the first listed power sector infrastructure investment trust (InvIT) in India, and G R Infraprojects (GRIL), a prominent player in the Infrastructure sector, have collaboratively decided to bid for identified power transmission projects valued at Rs 50 billion. According to a statement from IndiGrid, they have announced a strategic partnership in the Indian power transmission sector.
As per the agreement, they have signed to jointly bid for Tariff Based Competitive Bidding (TBCB) transmission projects, totalling approximately Rs 50 billion. The power ministry has recently revealed a plan for an investment of Rs 2.5 trillion to build transmission infrastructure, aligning with the goal of achieving 500 GW of renewable energy capacity by 2030 as part of their energy transition initiative.
The statement emphasised the significant opportunity for the private sector to participate in the energy transition journey, influencing the future of the power landscape and positively impacting lives across the country.
In the initiation of their partnership, IndiGrid and GRIL have entered into a framework agreement to acquire a 100% stake in Rajgarh Transmission, which GRIL had secured in March 2022. This project is integrated into the interstate transmission system (ISTS) and includes a 400/220kV substation at Rajgarh and a 400kV double circuit line in Madhya Pradesh.
The execution of the project will be handled by GRIL, leveraging its established capabilities in project execution. Following the commercial date of operation (COD), IndiGrid, with its operational and financial expertise, will take over the asset's operation and management from GRIL.
