G R Infraprojects Ltd (GRIL) has formally acquired “Rajgarh Neemuch Transmission Ltd” from bid process coordinator REC Power Development & Consultancy Ltd.
GRIL had emerged as the successful bidder for underlying ISTS scheme “Transmission system for evacuation of power from RE projects in Rajgarh (1,500 MW) SEZ in Madhya Pradesh-Phase III & evacuation of power from RE projects in Neemuch (1,000 MW) SEZ in Madhya Pradesh-Phase II,” under the tariff-based competitive bidding (TBCB) mechanism.
The project SPV “Rajgarh Neemuch Transmission Ltd” was incorporated by RECPDCL as its wholly-owned subsidiary, on June 17, 2025.
As reported by tndindia.com on August 14, 2025, GRIL had emerged L1 bidder for this scheme, getting the better of seven other contenders that had qualified for opening of initial price bids. However, only four bidders (names of the other three unknown) made it to the e-reverse auction stage. GRIL was issued the letter of intent by RECPDCL on August 27, 2025.
GRIL put in the winning bid of Rs.3,670.73 million being the levelized annual transmission charges (tariff) that will remain constant for the entire concession period.
With an estimated outlay of Rs.3,472 crore (as estimated by National Committee on Transmission) and an implementation period of 24 months, the scheme, taking shape in Madhya Pradesh, involves putting up around 850 ckm of 400kV lines and a new 400/220kV, 2×500 MVA substation at Handiya, along with associated infrastructure.
Fifth ISTS-TBCB win for GRIL
For GRIL, the Rajgarh-Neemuch scheme represents the fifth formal acquisition of an ISTS scheme, won under the TBCB framework. The company debuted in the ISTS-TBCB space by acquiring Rajgarh Power Transmission Ltd in May 2022; the project was fully commissioned in March 2024. GRIL later acquired Pachora Power Transmission in February 2024, followed by Tumkur-II REZ Power Transmission (September 2024), Bijapur REZ Transmission Ltd (January 2025) and now, Rajgarh Neemuch Power Transmission Ltd, acquired on September 29, 2025.
Also read: G R Infraprojects set to win its fifth ISTS-TBCB scheme, emerges L1 for Rajgarh-Neemuch
Featured photograph (source: GRIL) is for representation only; event photograph sourced from RECPDCL.