Apraava Energy has won its fourth greenfield interstate transmission system (ISTS) scheme under the tariff-based competitive bidding (TBCB) mechanism.
On August 21, 2024, bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) formally handed over project SPV “Rajasthan IV A Power Transmission Ltd” to Apraava Energy Pvt Ltd.
The project SPV was incorporated by RECPDCL on October 10, 2023 as its wholly-owned subsidiary to develop an ISTS scheme termed as “Transmission system for evacuation of power from Rajasthan REZ Phase-IV (Part-2:5.5 GW) (Jaisalmer/Barmer Complex): Part A.”
Apraava Energy won this project under the TBCB mode getting the better of other contenders like Power Grid Corporation of India Ltd (PGCIL), Sterlite Power and Adani Energy Solutions Ltd.
According to information available, Apraava Energy quoted the winning tariff bid of Rs.1,845.42 million, being the annual transmission charges. The next best bid (L2, bidder’s name not available) was only 0.25 per cent higher than the winning bid.
The project to be developed by “Rajasthan IV A Power Transmission Ltd” is likely to cost around Rs.2,206 crore (as estimated by NCT) and will have a gestation period of 24 months.
The scheme covers construction of 765/400kV, 4×1500 MVA and 400/220kV, 5×500 MVA Pooling Station at Fatehgarh in Rajasthan (to be called Fatehgarh-IV PS), along with 184.56 km of 400kV lines and associated works.
The SPV was handed over by T.S.C. Bosh, CEO, RECPDCL to Naveen Munjal, Director (BD), Apraava Energy, in the presence of senior officials of RECPDCL, Apraava Energy and Central Transmission Utility of India Ltd. (See photograph)
Fourth greenfield project
For Apraava Energy, Rajasthan IV A Power Transmission Ltd represents the fourth greenfield ISTS project won under the TBCB mode.
The company (formerly known as CLP India) debuted in the ISTS-TBCB space by winning two projects – Fatehgarh III Transmission Ltd and Fatehgarh IV Transmission Ltd – in August 2023. In February 2024, Apraava Energy scored its third win by clinching Karera Power Transmission Ltd.
Prior to these wins, Apraava Energy had a power transmission development portfolio comprising both intrastate and interstate transmission system schemes. However, this portfolio, of two schemes, was created out of acquisitions from original developers. The ISTS scheme “Kohima-Mariani Transmission Ltd” was taken over from the original developer consortium of Techno Electric & Engineering Company Ltd and Kalpataru Projects International Ltd (then known as Kalpataru Power Transmission Ltd). The acquisition in the intrastate transmission space was “Satpura Transco Pvt Ltd” – an operational project in Madhya Pradesh developed by Kalpataru Projects International Ltd.
