The partnership comes as India targets 500 gigawatts (GW) of renewable energy capacity by 2030, which is expected to require significant expansion and strengthening of transmission infrastructure.
Also read: Closing Bell: Markets snap two-day losing streak as benchmarks gain nearly 1%Rajesh Ganesh, Managing Director and Chief Executive Officer of Bajel Projects, said the collaboration will allow the companies to “contribute to the significant power transmission growth opportunity in India,” while continuing Bajel’s focus on EPC execution.
Under the agreement, the companies plan to combine NIIF’s investment and asset management capabilities, AnantGrid’s business development and project management expertise, and Bajel’s engineering, procurement and construction (EPC) execution capabilities.
Also read: Happiest Minds shares surge 17% after raising FY27 growth projections from earlier 10%He added, “We intend to leverage Bajel’s EPC expertise, NIIF’s investment management capabilities and AnantGrid’s project management acumen to deliver high-quality, timely and cost-efficient power transmission projects.”
AnantGrid CEO Bimal Dayal said power transmission will play a key role as India accelerates its energy transition and electricity demand rises, adding that the partnership will help the companies jointly bid for and deliver transmission projects.
The companies said the collaboration framework aims to deliver cost-efficient and timely power transmission projects, supporting the expansion and reliability of India’s electricity grid.
Avener Capital acted as the sole financial advisor to Bajel for the collaboration with NIIF and AnantGrid.
Bajel Projects is a power infrastructure company with operations in power transmission and distribution, and is part of the Bajaj Group.
Following the announcement, shares of Bajel Projects Ltd. closed 145.50. The stock has lost 13.93% in the last month.
