Key Development

AnantGrid Projects One Private Limited (AGPOPL), a company jointly owned by Bajel Projects Limited (26%) and National Investment and Infrastructure Fund (74%), has been declared the successful bidder for the Lakadia – Part A Inter-State Transmission Project.

Project Details

  • Project Name: Common Transmission System for evacuation of power from Lakadia (Phase-II: 7.5GW), Jam Khambhaliya (Phase-II: 5.5GW) and Jamnagar (Phase-I: 1GW) - Part-A
  • Bidding Authority: PFC Consulting Limited (PFCCL)
  • Bidding Route: Tariff Based Competitive Bidding (TBCB)
  • Auction Date: 6th-7th August 2026
  • Result: AGPOPL emerged as L1 (lowest bidder) in the e-reverse auction
  • LOI Date: Received Letter of Intent on August 20, 2026

Project Scope

  • Construction of approximately 270 Km of 765 KV double-circuit transmission lines from Halvad to Vadodara in Gujarat
  • Additional works at three substations: Halvad, Vadodara, and South Olpad

Ownership Structure

AnantGrid Projects One Private Limited is jointly owned by:

  • Bajel Projects Limited: 26% ownership
  • National Investment and Infrastructure Fund (NIIF): 74% ownership

Strategic Collaboration Background

The Bajel-NIIF-AnantGrid collaboration was established in March 2026 through a collaboration agreement between:

  • National Investment and Infrastructure Fund (NIIF) - sovereign-linked alternative asset manager anchored by Government of India
  • Bajel Projects Limited (part of Bajaj Group)
  • AnantGrid Private Limited (power transmission developer promoted by NIIF)

Collaboration Objectives

The partnership combines:

  • NIIF's investment and asset management capabilities
  • AnantGrid's project development and management expertise
  • Bajel's engineering, procurement and construction (EPC) strengths

Strategic Purpose

To jointly pursue power transmission opportunities of mutual interest in India through the TBCB route, supporting India's target of 500 GW of renewable energy capacity by 2030.

Company Background

Bajel Projects Limited is a leading power infrastructure company with strong domestic and international presence in Power Transmission and New Energies (formerly Power Distribution) sectors. The company was formerly part of Bajaj Electricals Limited under the EPC segment and has over two decades of experience.