IndiGrid prevails as L1 bidder for 1GW transmission project in Maharashtra

IndiGrid Investment Managers Limited said that a consortium of IndiGrid 1 Limited and IndiGrid 2 Limited has prevailed as L1 bidder for a 1GW electric transmission project in Maharashtra under Transmission both under Tariff based competitive bidding (TBCB).

IndiGrid 1 and IndiGrid 2 are fully-owned subsidiaries of IndiGrid Trust, which is a power sector infrastructure investment trust backed by KKR and Sterlite Power.

IndiGrid Investment Managers is the investment manager of India Grid Trust.

IndiGrid prevails as L1 bidder for 1GW transmission project in Maharashtra. Photo courtesy of Couleur from Pixabay.

The transmission project, which is aimed at evacuating power produced by renewable facilities in Osmanabad area, is estimated to cost nearly INR 170 crores. It is on a build, own, operate and maintain (BOOM) basis by REC Power Development and Consultancy Limited.

IndiGrid Investment Managers said that the consortium’s bid during the reverse auction was INR 16.74 crores.