Bajel Projects Bags PowerGrid Ultra-Mega 765kV EPC Order

Order Secured from PowerGrid

Bajel Projects Limited has converted its transmission push into a firm order, securing an Ultra-Mega EPC package for Transmission Line Package TL05 from PowerGrid Corporation of India Limited.

PowerGrid is awarding the work on behalf of a special purpose vehicle under the tariff-based competitive bidding route, within the Western Region–Eastern Region inter-regional network expansion scheme Part A.

Brownfield Scope and Execution Risks

The package carries heavy brownfield content. Bajel will bypass the Raigarh (Tamnar)–Dharamjaygarh (Sec-B) 765 kV double circuit line, reconfigure it into the Raigarh (Kotra)–Dharamjaygarh (Sec-B) corridor, and execute a line-in-line-out of the Dharamjaygarh (Sec-B)–Jharsuguda (Sec-A) line at the Raigarh (Kotra)-II substation.

Associated works include civil and electrical packages around the Raigarh (Tamnar) and Raigarh (Kotra)-II substations.

The 33-month completion clock, starting from notification of award, is the critical commercial variable. Reconfiguration on an operational 765 kV corridor means outage coordination, live-grid interfaces, and right-of-way sequencing around existing substation assets — execution risks that carry liquidated damages if misjudged.

This is not greenfield stringing; it is brownfield work on a corridor already moving inter-regional power.

Strategic Momentum and Structural Signal

For Bajel Projects, the order matters beyond its Rs 4 billion-plus Ultra-Mega threshold. The company — the EPC business spun out of Bajaj Electricals — is building a transmission franchise at pace.

Two days before this award, it disclosed orders worth over Rs 7 billion. In March 2026, it aligned with the National Investment and Infrastructure Fund and AnantGrid to pursue transmission opportunities, pairing capital and development reach with its execution platform.

The signal is structural. India's inter-regional transmission build-out, procured through TBCB and packaged into Ultra-Mega lots, is dispersing execution work beyond established EPC incumbents.

PowerGrid's role as bid process coordinator keeps the framework competitive but transfers delivery and margin risk to the contractor. Bajel's momentum will now be tested by mobilisation, skilled stringing and substation crews, tower steel and conductor procurement, and working capital discipline.

Stakeholders and Outlook

The stakeholder map is clear:

- PowerGrid Corporation of India Limited controls the award and network interface.
- The SPV holds transmission service provider risk.
- Bajel Projects Limited carries execution and margin risk while capturing order-book scale.
- NIIF and AnantGrid are strategic enablers.

For infrastructure professionals, Bajel's shift from Bajaj Electricals carve-out to transmission EPC challenger is the metric to watch.

Order inflow is rising, but execution bandwidth and margin delivery on brownfield 765 kV reconfiguration will decide whether the strategy compounds or stalls.