AnantGrid Projects One Pvt Ltd (AGPOPL) — a company jointly owned by Bajel Projects Ltd (26 per cent) and National Investment and Infrastructure Fund (74 per cent) has received the letter of intent (LoI) for developing the Lakadia-A interstate scheme.
In a release, Bajel Projects said that AGPOPL has received the letter of intent from bid process coordinator PFC Consulting Ltd, declaring the company as the successful bidder for the ISTS scheme termed as “Common Transmission System for evacuation of power from Lakadia (Phase-II: 7.5 GW), Jam Khambhaliya (Phase-II: 5.5GW) and Jamnagar (Phase-I: 1 GW) – Part-A”.
AGPOPL had emerged L1 post the e-reverse auction for the scheme held on August 6 and August 7, 2026.
On August 7, 2026, tndindia.com had exclusively reported that AnantGrid Projects had emerged L1 in the e-RA with a tariff quote of around Rs.370 crore, and would be issued the letter of intent by PFCCL. (Read full story)
The project
The project includes construction of around 270 km of 765kV double-circuit transmission lines from Halvad to Vadodara in Gujarat, and additional works at three substations — Halvad, Vadodara and South Olpad.
The project is part of an overarching system that aims at evacuation of 14 GW of RE power from Jam Khambhaliya, Lakadia and Jamnagar regions of Gujarat. (Read tndindia.com story dated February 16, 2026 for more details)
The Bajel -NIIF-Anantgrid collaboration
In March 2026, National Investment and Infrastructure Fund (NIIF), a sovereign-linked alternative asset manager anchored by the Government of India signed a collaboration agreement with Bajaj Group entity Bajel Projects Ltd, and AnantGrid Pvt Ltd, a power transmission developer promoted by NIIF, to jointly pursue power transmission opportunities of mutual interest in India, to be undertaken through the TBCB route. (Click here for more details)
The collaboration brings together: NIIF’s investment and asset management capabilities; AnantGrid’s project development and management expertise, and c. Bajel’s engineering, procurement and construction (EPC) strengths.
The collaborative effort aims at delivering high-quality transmission infrastructure in support of India’s target of 500 GW of RE generation capacity by 2030.
Featured photograph (source: Bajel Projects) is for representation only