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Bajel Projects wins largest-ever ₹1,500 crore order for 765 kV transmission lines in Gujarat - Published OnOct 26, 2026 | 21:07 IST - Last Updated OnOct 26, 2026 | 21:07 IST Bajel Projects secured its largest-ever transmission contract to build high-voltage lines and substations in Gujarat, supporting the evacuation of massive green energy capacities. The venture pairs its engineering role with a developer stake alongside NIIF. Discover how this dual approach impacts upcoming margin profiles. Bajel Projects Ltd on Monday (October 26) said it has secured its largest-ever transmission order worth ₹1,500 crore, including Goods and Services Tax (GST), from Lakadia A Power Transmission Ltd for engineering, procurement and construction (EPC) works on transmission lines and substations in Gujarat. The order comprises multiple Letters of Award (LOAs) for constructing around 270 km of 765 kV double-circuit transmission lines between Halvad and Vadodara, along with additional works at the Halvad, Vadodara and South Olpad substations. The project is scheduled to be completed within 36 months from the date of issuance of the purchase order. The transmission project is part of the Common Transmission System for evacuation of power from Lakadia (Phase II: 7.5 GW), Jam Khambhaliya (Phase II: 5.5 GW) and Jamnagar (Phase I: 1 GW) — Part A. It will form part of a wider network designed to evacuate nearly 14 GW of renewable power from these regions. Lakadia A Power Transmission Ltd is a special purpose vehicle (SPV) transferred by Power Finance Corporation Consulting Ltd to AnantGrid Projects One Pvt Ltd (AGPOPL) for developing the transmission system. AGPOPL is jointly owned by Bajel Projects, which holds a 26% stake, and the National Investment and Infrastructure Fund (NIIF), which owns the remaining 74%. The consortium won the tariff-based competitive bidding (TBCB) process for the project in August 2026. The company classifies the order as an ultra-mega project under its internal policy, which includes GST in determining order size. Its ultra-mega category covers orders worth ₹400 crore and above. The transmission infrastructure is intended to enable the evacuation of renewable energy from the high-potential zones of Lakadia, Jam Khambhaliya and Jamnagar in Gujarat. The project is also linked to India's target of achieving 500 GW of non-fossil fuel-based energy capacity by 2030. Bajel Projects said the order combines its role as an EPC contractor with that of a project developer. The company operates in power transmission and new energies, with domestic and international operations across transmission, distribution and manufacturing solutions. The company said neither its promoters, promoter group nor group companies have an interest in the entity awarding the order. The contract falls under related-party transaction provisions and has been executed at arm's length, with prior shareholder approval obtained. Rajesh Ganesh, Managing Director and CEO, Bajel Projects Limited, said, "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 is the result of a successful collaboration between Bajel, NIIF, and AnantGrid, and a significant step towards strengthening India’s transmission infrastructure for large-scale renewable energy integration. This project uniquely positions us as we take up the dual role of an EPC partner and a project developer. As the country advances towards its ambitious clean energy goals, we remain committed to delivering world-class transmission networks that are reliable, sustainable, and future-ready, while creating long-term value for our customers and the nation."
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