AnantGrid Projects One Private Limited (AGPOPL) has been declared the successful bidder for a major Inter-State Transmission System (ISTS) scheme in Gujarat, designated as “Part-A” of the infrastructure required to evacuate power from the Lakadia, Jam Khambhaliya, and Jamnagar renewable energy clusters. PFC Consulting Limited (PFCCL), acting as the Bid Process Coordinator, issued the Letter of Intent (LoI) to the company on August 21, 2026. AGPOPL, operating as a Special Purpose Vehicle (SPV), secured the contract via the Tariff Based Competitive Bidding (TBCB) mechanism after emerging as the lowest (L1) bidder during an e-reverse auction held on August 6-7, 2026.
This project is a critical component of India’s Green Energy Corridor Programme, designed to support the national target of 500 GW of non-fossil fuel capacity. By providing the necessary grid infrastructure, the scheme aims to mitigate “sequencing risk”—a strategic challenge in which renewable generation capacity outpaces the grid’s absorption and transmission capabilities.
Project Infrastructure and Technical Scope
The Part-A scheme focuses on facilitating the high-voltage transfer of renewable energy from generation hubs in western Gujarat to major load centers in South Gujarat and Maharashtra. The technical scope, as defined by the procurement documents, includes:
- Transmission Lines: Construction of approximately 270 km of 765 kV double-circuit transmission lines connecting Halvad to Vadodara.
- Substation Augmentation: Extensive works at existing facilities in Halvad, Vadodara, and South Olpad.
- Gas-Insulated Switchgear (GIS): Key components involve the augmentation of the South Olpad Gas-Insulated Switchgear substation and the installation of 765 kV line bays at the Vadodara GIS.
- Reactors: Deployment of switchable line reactors at both the Vadodara and Halvad terminals to maintain grid stability.
The infrastructure is specifically sized to handle the evacuation of power from Lakadia (Phase-II: 7.5 GW), Jam Khambhaliya (Phase-II: 5.5 GW), and Jamnagar (Phase-I: 1 GW).
Competitive Bidding Process and Cost Estimates
The award follows a rigorous TBCB cycle managed by PFCCL. The project has an estimated cost of Rs 2,252 crore. AGPOPL was selected from a field of six qualified participants that reached the final stages of the bidding process:
- AnantGrid Projects One Private Limited (Winner)
- Adani Energy Solutions Limited
- Dineshchandra R. Agrawal Infracon Private Limited
- Dilip Buildcon Limited
- Power Grid Corporation of India Limited
- Resonia Limited
The formal transfer of the LoI represents a significant milestone in the development timeline, ensuring that transmission capacity is synchronized with upcoming generation commissions in the region.
- PFC Consulting Limited (PFCCL) (the Bid Process Coordinator): PFC Consulting Website
- Power Finance Corporation (PFC) (the tendering authority): Power Finance Corporation (pfcindia.com) or Power Finance Corporation Portal (pfc.gov.in)
Stakeholder and Entity Overview
AnantGrid Projects One Private Limited (AGPOPL) is a joint venture established to execute this specific ISTS mandate. The ownership structure of the SPV reflects a combination of private sector expertise and public-backed investment:
- National Investment and Infrastructure Fund (NIIF): Holds a 74% majority ownership stake.
- Bajel Projects: Holds a 26% ownership stake.
As the majority shareholder, NIIF’s involvement underscores the strategic priority placed on scaling India’s inter-state energy infrastructure. Following the issuance of the LoI, the SPV will be responsible for the development, finance, and long-term operation of the transmission assets under the TBCB framework.
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