### **Overview** GMR Power & Urban Infra Limited (GPUIL) is a diversified infrastructure conglomerate and a listed entity under the GMR Group. The company operates across three core verticals: **Energy**, **Transportation (Highways & Railways)**, and **Urban Infrastructure**. With a strategic shift toward innovation and sustainability, GPUIL is repositioning itself under the **"Energy 2.0"** vision — focusing on asset-light, technology-driven, and clean energy-focused business models. --- ### **Strategic Direction: Energy 2.0** GPUIL is undergoing a transformative shift through its **Energy 2.0** strategy, launched in 2022 and actively progressing through 2025. Key pillars include: - Transition to **smart distribution**, **smart mobility**, and **renewable energy**. - Emphasis on **platform-based**, **asset-light**, and **digital-first** models. - Expansion into high-growth segments: **smart metering**, **EV charging infrastructure**, **distributed energy solutions**, **energy storage**, and **clean-tech partnerships**. - Leverage of GMR Group synergies, particularly from **airports, highways, and industrial parks**, to access early adopters for e-mobility and clean energy services. In pursuit of this vision, GPUIL is investing in cleantech startups, forming strategic alliances, and accessing **green financing** to de-risk capital-intensive initiatives. --- ### **Key Business Verticals & Recent Developments** #### **1. Energy Business (as of Nov 2025)** - **Operational Capacity**: ~3 GW of installed power generation across coal, gas, hydro, and solar sources. - **Key Assets**: - **GMR Warora Energy Ltd (GWEL)**: 600 MW coal-based plant in Maharashtra; 90% under PPAs with MSEDCL, TANGEDCO, and GUVNL; achieved peak PLF of 83% and 94% availability in FY24. - **GMR Kamalanga Energy Ltd (GKEL)**: 1,050 MW (3x350 MW) coal plant in Odisha; 90% capacity contracted under long/medium-term PPAs with DISCOMs in Haryana, Odisha, Bihar, and Tamil Nadu. - **GMR Rajahmundry Energy Ltd (GREL)**: 768 MW gas-based combined cycle plant in Andhra Pradesh (45% owned via GGAL). - **Bajoli Holi Hydro Plant**: 180 MW commissioned in 2022; nearly 100% capacity contracted via 25-year PPAs with **Delhi International Airport (DIAL)** and **UPPCL**. - **GMR Energy Limited (GEL)**: - GMR Group acquired full control (100%) of GEL from Tenaga in Nov 2023 for ₹237.55 crore, enabling **full consolidation** of financials under Ind AS 110. #### **2. Smart Metering Project in Uttar Pradesh (Flagship Initiative)** - **Project Lead**: GMR Smart Electricity Distribution Private Limited (GSEDPL), a wholly-owned subsidiary of GPUIL. - **Scope**: Installation and 10-year O&M of **7.57 million prepaid smart meters** across **22 districts** in Uttar Pradesh. - **Contract Model**: 10-year **DBFOOT** (Design, Build, Finance, Own, Operate, Transfer). - **Total Contract Value**: **INR 75.9 billion (₹7,593 crore including GST)**. - **Project Breakdown**: - **Kashi Project**: ₹2,736.66 crore - **Triveni Project**: ₹2,386.72 crore - **Agra Project**: ₹2,469.71 crore - **Technology Partner**: **Bosch Global Software Technologies (BGSW)** – provides end-to-end IT and IoT architecture and holds **10% equity stake** in each of the three project SPVs. - **Financing**: **IREDA sanctioned INR 21.28 billion** in debt funding. - **Progress (as of Jan–Nov 2025)**: - 100% IT integration completed. - **Over 440,000 smart meters installed** (as of Jan 2025). - All three SPVs have achieved **‘Operational Go-Live’**. - Revenue collection has commenced via billing to DISCOMs. - **Impact**: Aims to reduce AT&C losses and improve revenue efficiency for UP DISCOMs. #### **3. Renewable Energy & Future Growth** - **Pipeline**: Developing **~1,000 MW of clean energy projects** in India and Nepal. - **Focus Areas**: - **Firm and Dispatchable Renewable Energy (FDRE)** for **C&I customers**. - Hybrid power solutions combining solar, wind, and storage. - Energy efficiency-as-a-service and distributed generation. - **Green Investment**: Strategic MoU with Uttar Pradesh for **₹45,000 crore** investment by 2028 in **solar, EV charging, energy efficiency, green hydrogen, and data centers**. #### **4. Urban Infrastructure (Special Investment Regions – SIRs)** - **Primary Asset**: **GMR Krishnagiri SIR Limited (GKSIR)**, a JV with **Tamil Nadu Industrial Development Corporation (TIDCO)** in Tamil Nadu. - **Land Holdings**: - **Total area**: ~990 acres (as of FY25). - **Sales & Monetization**: - **504 acres** sold to **Tata Electronics Pvt Ltd (TEPL)** for a mobile phone component manufacturing plant (₹4,500 crore investment, 18,000 jobs). - **~407 acres sold in FY24–25**, including **286 acres to SIPCOT**. - Additional land sales to TN government agencies underway (~100 acres under discussion). - **Leased Land**: ~120–122 acres to industrial clients including **TEL Components Pvt Ltd** for phone assembly. - **Development Plans**: - Infrastructure development on **~55–75 acres** to attract manufacturing and industrial units. - Focus sectors: **electronics, automobiles, logistics, aerospace, engineering**. #### **5. Transportation & EPC Business** - **Highways**: - Operates **4 highway projects** (~1,460 lane km) under **BOT or annuity models** in AP, Telangana, Haryana, Punjab, and Tamil Nadu. - Post-COVID traffic recovery strong; **Hyderabad–Vijayawada** traffic grew 14–17% YoY. - **Ambala-Chandigarh highway** received a 429-day concession extension due to farmer strikes. - **Railways**: - EPC execution of **417 km of the Eastern Dedicated Freight Corridor (DFC)** in UP, Haryana, Punjab. - **In-house track-laying machines** and skilled workforce to bid for future **rail O&M contracts**. - Exploring PPP opportunities in **railway station development**. #### **6. Smart Mobility & EV Ecosystem** - **EV Charging Infrastructure**: - Focused on **fast DC chargers**, **fleet electrification**, and **domestic EV charger manufacturing**. - Installed chargers at **Group-operated airports** (leveraging footfall and fleets). - Strategic **MoU with Uber** for long-term collaboration in EV charging ecosystem. - Partnerships with **Meru, cab aggregators**, and mobility providers. - **Synergy Advantage**: Airport hubs serve as ideal locations for fleet operators, accelerating EV adoption. #### **7. Financial & Strategic Enablers** - **Green Financing**: Secured project financing via **IREDA** for smart metering; actively pursuing ESG-linked loans. - **Partnerships & Innovation**: - **GMR Innovex** platform to co-develop innovative energy and infrastructure solutions with startups. - **Technology partnerships** with Bosch and global firms. - Investing in **early-stage cleantech startups** with synergistic potential. - **Balance Sheet & Restructuring**: - Completed **vertical demerger** of GMR Infrastructure Ltd (GIL) in FY22, separating airports (GIL) and non-airport assets (GPUIL). - Strengthened balance sheet through **asset monetization** and **debt reduction**. - Divested 30% stake in **PT Golden Energy Mines (Indonesia)** for **USD 420 million**, reducing leverage.