Order Details
Awarding Entity: Lakadia A Power Transmission Limited
Order Type: EPC Contract for Transmission Line & Substation
Order Value: ₹1,500 Crores (including GST)
Classification: Ultra-Mega Order (as per company's policy for orders above ₹400 Cr)
Business Context: Ordinary course of business
Geographic Scope: Domestic (India)
Project Specifications
- Transmission Lines: 270 km of 765 kV double-circuit transmission lines from Halvad to Vadodara, Gujarat
- Substation Works: Additional works at Halvad, Vadodara and South Olpad substations
- Project Timeline: 36 months from date of Purchase Order issuance
Strategic Context
The project forms part of the Common Transmission System for evacuation of power from:
- Lakadia Phase II: 7.5 GW
- Jam Khambaliya Phase II: 5.5 GW
- Jamnagar Phase I: 1 GW
Total renewable energy evacuation capacity: 14 GW from Lakadia, Jam Khambhaliya and Jamnagar regions in Gujarat.
Corporate Structure
Lakadia A Power Transmission Limited is a special purpose vehicle (SPV) transferred to AnantGrid Projects One Private Limited (AGPOPL) by PFC Consulting Limited. AGPOPL is jointly owned by:
- Bajel Projects Limited: 26%
- National Investment and Infrastructure Fund (NIIF): 74%
AGPOPL successfully won the TBCB (Tariff Based Competitive Bidding) bid for this project in August 2026.
Related Party Considerations
- Promoter/promoter group/group companies have no interest in the entity awarding the order
- The order qualifies as a related party transaction
- Transaction conducted at arm's length
- Prior approval of shareholders has been obtained
Management Commentary
Mr. Rajesh Ganesh, Managing Director & CEO, Bajel Projects Limited stated: \"Securing this landmark ₹1,500 crore project, the largest transmission order in Bajel Projects' history, is a proud milestone that reflects the strength of our execution capabilities, technical expertise, and the trust placed in us by our stakeholders. This project uniquely positions us as we take up the dual role of an EPC partner and a project developer.\"
Company Background
Bajel Projects Limited is a leading Engineering, Procurement and Construction (EPC) and manufacturing solutions company with presence across Power Transmission and New Energies sectors, formerly the EPC arm of Bajaj Electricals Limited.