Delhi-headquartered infrastructure trust, IndiGrid Trust, and infrastructure major GR Infraprojects Ltd. (GRIL), have signed a Memorandum of Understanding (MoU) to bid jointly for Rs. 5,000 crore worth of power transmission projects in India. These bids will be placed for projects that are auctioned via Tariff Based Competitive Bidding (TBCB) route.
As a starting point of their partnership, in addition to the above MoU, IndiGrid and GRIL have signed a framework agreement as per which IndiGrid will acquire 100% stake from GRIL in Rajgarh Transmission Limited, a Special Purpose Vehicle (SPV) for developing an ISTS-connected project in Rajgarh, Madhya Pradesh. The Rajgarh Transmission Project was acquired by GRIL in March 2022. Under this framework agreement, GRIL will develop the Rajgarh power evacuation project, while IndiGrid will operate and maintain it.