IndiGrid Subsidiary Secures ₹195 Crore Transmission Project from REC Power

IndiGrid Investment Managers announced on Monday (March 3) that its wholly-owned subsidiary, IndiGrid 2 Private Ltd, has received a Letter of Intent (LoI) from REC Power Development and Consultancy Ltd for an inter-state transmission project under the tariff-based competitive bidding (TBCB) framework.

Project Overview and Scope

IndiGrid 2 Private Ltd has been awarded the project to establish an inter-state transmission system for the “Transmission Scheme for Evacuation of Power from Ratle HEP (850 MW) & Kiru HEP (624 MW): Part-A.” The project will be developed under the Build, Own, Operate, and Transfer (BOOT) model, meaning IndiGrid will construct, own, and operate the infrastructure for a set period before transferring it to the government or relevant authorities.

The company confirmed this development in a regulatory filing, stating, “IndiGrid 2 Private Limited (wholly owned subsidiary of IndiGrid Infrastructure Trust) has received the Letter of Intent (LOI) dated February 28, 2025, from REC Power Development and Consultancy Ltd.”

Construction Timeline and Financial Impact

The project is expected to be completed within 24 months, after which it will generate annual transmission charges of ₹195.2 crore (₹1,952.32 million).

IndiGrid emphasized the long-term value of this project, stating that it aligns with its strategy to expand its footprint in the transmission sector and contribute to India’s growing power infrastructure needs.

With this latest contract, IndiGrid continues to solidify its position as a key player in India’s power transmission sector, ensuring efficient energy evacuation from hydropower projects to the national grid.

Stock Performance 

On March 04, 2025, IndiGrid Investment Managers share price traded 0.17% higher at ₹140.27 at 9:30 AM (IST). IndiGrid Investment Managers’s share price reached a 52-week high of ₹152.15, and a 52-week low of ₹129.06. As per NSE, the total traded volume for the stock stood at 0.02 lakh shares with a turnover of ₹0.03 crore.

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