Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

GRIL Joins IndiGrid To Bid For Transmission Projects

- Advertisement -

This infrastructure investment trust and G R Infraprojects Ltd will jointly bid for identified Tariff Based Competitive Bidding transmission projects

A leading player in the Indian infrastructure sector, G R Infraprojects Limited (GRIL) and India Grid Trust, an infrastructure InvIT recently announced a strategic partnership in the Indian Power Transmission sector. They signed an MoU to jointly bid for identified TBCB (Tariff Based Competitive Bidding) transmission projects aggregating to around Rs 5,000 Cr.

Notably, IndiGrid and GRIL have entered into a framework agreement to acquire a 100% stake in Rajgarh Transmission Limited, which GRIL won in March 2022. This project, the official release noted, is part of the Interstate transmission system (ISTS) and comprises a 400/220kV Substation at Rajgarh and a 400kV double circuit Line in Madhya Pradesh.

- Advertisement -

While GRIL will develop and execute the project, IndiGrid will operate and manage the asset post-acquisition from GRIL upon its COD.

It must be noted that the Ministry of Power had recently unveiled a plan for investment of Rs 2,50,000 Cr in building transmission infrastructure for meeting the vision of 500 GW of renewable energy capacity by 2030 to meet its energy transition goal.

The partners believe that this meaningful opportunity must be harnessed by the private sector to participate in the journey of energy transition and shape the future of the power landscape and enrich countless lives across the country.

IndiGrid CEO, Harsh Shah said the following about the partnership: “We are delighted to announce this partnership with GR infra. They have an impeccable track record of executing infrastructure projects in the country. The partnership stands to benefit from GRIL’s strengths of execution and developmental capabilities on the ground and synergies from IndiGrid’s operational portfolio. This partnership is in line with our strategy to acquire value accretive operational transmission assets.”

He further added that the expansion works received across a few existing assets of IndiGrid aggregating to around Rs 230 Cr on a Regulated Tariff Mechanism (RTM) basis, enabled them to leverage their operational and developmental capabilities and contribute towards a sustainable increase in the DPU.

“We believe this partnership with IGT is a significant milestone in the journey towards building a presence in Power Utility for GRIL. With our dynamic synergies, we will establish ourselves as pioneer developers in this sector. Successful closure of this project will bring immense value to both the organisations and the public at large. And we look forward to strengthening this partnership even further”, commented Ashwin Agarwal of GRIL.

25-years-old G R Infraprojects Limited (GRIL) is a listed infrastructure company which executes high-value projects with a stronghold in integrated EPC and project development with experience in design, construction and O&M of various road, railway, metro, and power transmission & distribution projects pan India.

IndiGrid is the first Infrastructure Investment Trust (InvIT) in the Indian power sector. It owns 16 power projects, consisting of 42 transmission lines with over 7,790 ckms of length, 12 substations with around 14,450 MVA transformation capacity and 100 MW (AC) of solar generation capacity. The investment manager of IndiGrid is wholly owned by KKR.


- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

“ST SiC Optimises The Performance Of EV Applications”

0
STMicroelectronics plans to introduce Silicon Carbide (SiC) and Gallium Nitride (GaN) for the electric vehicle ecosystem in India. In an interview with Francesco Muggeri...

Electric Construction Machines Forecast $126 Billion Market Growth

0
IDTechEx's report on electric construction machines aims to boost industry growth, forecasting a US$126 billion market by 2044 with ongoing advancements in technologies and...

Buzz

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Tata Elxsi Partners With Wind River For Software-Defined Vehicles

0
This partnership between Tata Elxsi and Wind River boosts productivity and efficiency in software workflows by utilizing scalable cloud resources to advance software-defined vehicle...

Important Sectors

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Tata Elxsi Partners With Wind River For Software-Defined Vehicles

0
This partnership between Tata Elxsi and Wind River boosts productivity and efficiency in software workflows by utilizing scalable cloud resources to advance software-defined vehicle...

Budget Leaves EV Sector Hanging, FAME III Pending

0
A source familiar with the matter mentioned that the third edition of the FAME scheme is currently being developed, though it has yet to...

Bosch To Acquire Johnson Controls, Hitachi’s HVAC Unit For $8B

0
The deal encompasses 16 manufacturing facilities and 12 engineering sites across over 30 countries. Bosch intends to acquire the global HVAC solutions business for residential...

Manufacturing

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

India’s Roadmap To Becoming A Global Leader In Electronic Manufacturing: Policies, Progress, And Prospects

0
India's electronic manufacturing sector is poised for significant growth in the coming years, driven by ambitious government initiatives and strategic economic policies. Currently employing...
Mother-board-electronic-components

MeitY Announces $350 Billion PLI Plan To Boost Electronics Sub-Assemblies

0
MeitY announces allocation of $350 billion for a new PLI scheme, aiming to make India a global hub for electronics components and boost exports...