Bajel Projects Limited (Bajel), a major player in India’s Power EPC sector and a member of the prestigious Bajaj Group, said it had signed a deal to work with National Investment and Infrastructure Fund (NIIF), a sovereign-linked alternative asset manager backed by the Government of India, and AnantGrid Private Limited (Anantgrid), a power transmission developer promoted by NIIF.
With India’s target of 500GW of renewable energy by 2030 and increasing domestic/industrial demand, robust transmission infrastructure is the need of the hour.
The collaboration agreement proposes to participate in the opportunities of mutual interest in the power transmission sector in India, emanating from the Govemment of India’s focus on renewable energy integration, grid modernization, and private sector participation. The framework aims to deliver high-quality and cost-efficient power transmission projects on time in India by combining:
- NIIF’s investment and asset management capabilities
- AnantGrid’s business development and project management capabilities, and
- Bajel’s engineering and execution expertise.
Commenting on the collaboration, Rajesh Ganesh, MD & CEO, Bajel Projects Limited, said:
“The purpose of this collaboration is to contribute to the significant power transmission growth opportunity in India. We intend to leverage Bajel’s EPC expertise, NIF’s investment management capabilities and AnantGrid’s project management acumen to deliver high-quality, timely and cost-efficient power transmission projects. While we will continue our focus on EPC execution with our clients, this is an additional opportunity for us to participate in india’s growth story. By investing in our own growth, we are ensuring that it is benefitting the Indian Grid.”
Commenting on the collaboration, Bimal Dayal, CEO, AnantGrid, said:
“AnantGrid views power transmission as central to India’s growth. As the country accelerates its energy transition, significant capex will be required to meet rising electricity demand. We remain focused on building high-quality, reliable transmission assets. Our partnership with Bajel strengthens this commitment, enabling us to jointly bid and deliver projects of mutual interest and contribute to India’s grid expansion.”
Avener Capital acted as the sole financial advisor to Bajel for this collaboration with NliF and AnantGrid.
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