India Grid Trust (IndiGrid) and G R Infraprojects Limited (GRIL) have announced a strategic partnership in the Indian power transmission sector.
A memorandum of understanding has been signed to jointly bid for identified tariff based competitive bidding transmission projects aggregating to approximately Rs 50 billion. Additionally, to commence the partnership, IndiGrid and GRIL have entered into a framework agreement to acquire 100 per cent 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 400/220 kV substation at Rajgarh and 400 kV double circuit line in Madhya Pradesh. GRIL will develop and execute the project, while IndiGrid will operate and manage the asset post-acquisition from GRIL upon its commercial operation date. Notably, the Ministry of Power has recently unveiled a plan for investment of around Rs 2,500 billion in building transmission infrastructure for meeting the vision of 500 GW of renewable energy capacity by 2030. There is a meaningful opportunity for private sector to participate in the journey of energy transition and shape the future of the power landscape.