Thursday, February 6, 2025
elecrama banner

G R Infraprojects inks pact with IndiGrid for Rs. 5,000 Cr power transmission bids

Subscribe to YouTube Channel

Subscribe to Mojo4Industry YouTube Channel and get Latest Industry Updates. Do press Bell Icon to get automated notifications whenever new video is uploaded.

Must Read

Phillips Machine Tools brings Next-Gen Machining to IMTEX 2025

Phillips Machine Tools brings Next-Gen Machining to IMTEX 2025 Phillips Machine Tools, a 100% owned subsidiary of Phillips Corporation USA...

ANDRITZ to equip 216 MW Upper Trishuli 1 hydro project in Nepal

ANDRITZ to equip 216 MW Upper Trishuli 1 hydro project in Nepal International technology group ANDRITZ received an order from...

PMTX 2024 and FACTEQ 2024: Powering Manufacturing Advancements in India

PMTX 2024 and FACTEQ 2024: Powering Manufacturing Advancements in IndiaIndian Machine Tool Manufacturers’ Association (IMTMA) is organizing the third...

G R Infraprojects inks pact with IndiGrid for Rs. 5,000 Cr power transmission bids

India Grid Trust (IndiGrid), India’s first listed power sector infrastructure investment trust (InvIT) and G R Infraprojects Limited (GRIL), one of India’s leading players in infrastructure sector, have announced a strategic partnership in the Indian power transmission sector.

A MoU has been signed to jointly bid for identified TBCB (Tariff Based Competitive Bidding) transmission projects aggregating to approximately Rs. 5,000 Cr. Ministry of Power has 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. There is a meaningful opportunity for 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.

Additionally, to commence the partnership, IndiGrid and GRIL have entered into a framework agreement to acquire 100% stake in Rajgarh Transmission Limited, which GRIL had won in March 2022. This project is part of the Interstate transmission system (ISTS) and comprises of 400/220kV Substation at Rajgarh and 400kV double circuit Line in Madhya Pradesh. GRIL with its proven capabilities in project execution, will develop and execute the project, while IndiGrid, with its operational and financial capabilities, will operate and manage the asset post-acquisition from GRIL upon its COD.

“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 public at large. And we look froward to strengthening this partnership even further,” said Ashwin Agarwal of GRIL.

Commenting on this partnership, Harsh Shah, Chief Executive Officer of IndiGrid, said, “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.”

Subscribe to our Newsletter

Keep up with the latest industry news by subscribing to our industry news update. This way, you'll always be in the know about what's happening in your field, and you can stay ahead of the competition.

http://en.battery-expo.com/
- Advertisement -
mojo4industry podcast episodes click here to listen

Tech Talks

00:15:38

Delta Electronics ESG Goals | m4i Podcast with Rachna Kango

Delta Electronics ESG Goals | m4i Podcast with Rachna Kango In today’s fast-evolving business landscape, sustainability has emerged as a...
- Advertisement -

More Stories on mojo4industry