The project involves the construction of 220/132/33 kV air-insulated substations at Ranipur in Mau district and Chunar in Mirzapur district, along with associated transmission lines, according to an exchange filing. The project will be awarded through a tariff-based competitive bidding process.
The filing stated that the project carries annual transmission charges of about ₹45.01 crore, which will serve as the revenue stream for the 35-year concession period.
The project entails establishing an intra-state transmission system in Uttar Pradesh under the build, own, operate and transfer (BOOT) model, the filing stated. The selected transmission service provider will operate the asset for a period of 35 years.
REC Power Development and Consultancy Ltd, a wholly-owned subsidiary of REC Limited, is the entity overseeing the bidding process.
HG Infra said the project is to be executed within 18 months from the date of award.
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The company also clarified that neither its promoters nor promoter group entities have any interest in the awarding entity. The contract does not fall under related-party transactions, according to the filing.
Shares of HG Infra Engineering Ltd ended marginally lower on Tuesday, May 26, by 0.66% at ₹598.90 on the NSE.
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(Edited by : Shoma Bhattacharjee)
First Published: May 26, 2026 5:20 PM IST
