Apraava Energy is in the process of securing transmission licence for its two interstate transmission system (ISTS) schemes in Rajasthan.
In recent orders, Central Electricity Regulatory Commission (CERC) said that Apraava Energy has fulfilled the necessary requirements and that the matter will come up for hearing on December 8, 2023.
Apraava Energy is seeking transmission licence for two ISTS schemes housed under project SPVs – Fatehgarh III Transmission Ltd and Fatehgarh IV Transmission Ltd. (Read more).
In its orders, CERC was of the prima facie view that Apraava Energy has satisfied the conditions for grant of interstate transmission licence, and that the developer should publish a public notice inviting suggestions or objections, and place the same, if any, before CERC.
The bidding process
It is learnt that for both Fatehgarh III and Fatehgarh IV, the final bidding contest was between Apraava Energy and Power Grid Corporation of India Ltd (PGCIL). Apraava Energy had a very thin winning margin in both the projects.
For Fatehgarh III, Apraava Energy quoted the winning tariff of Rs.62.754 crore at the final stage of the e-reverse auction (e-RA). This was only 0.25 per cent better than the L2 quote of Rs.62.912 crore by PGCIL. Four bidders had qualified for the final price bids. The other two – Adani Energy Solutions Ltd and Tata Power – did not participate in the e-RA process.
For Fatehgarh IV also, Apraava Energy’s winning bid post e-RA, was Rs.24.867 crore. This was marginally better than PGCIL’s Rs.24.930 crore (L2 bid). Adani Energy Solutions and Torrent Power were placed L3 and L4 in the e-RA stage with respective bids of Rs.32.979 crore and Rs.33.735 crore. ReNew Transmission Ventures, which had qualified on the basis of its initial price bid, did not participate in the e-RA stage.
In the context of tariff-based competitive bidding (TBCB), “price bid” implies levelised transmission charges per year, in order to provide transmission services to beneficiaries of the transmission system.
Also read: Apraava Energy Signs MoUs With REC And PFC For Project Funding
Fatehgarh ISTS schemes
The two ISTS schemes that Apraava Energy would be developing are officially termed as:
- Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase III –Part A3” (corresponding to Fatehgarh III Transmission Ltd)
- Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase III –Part A1” (corresponding to Fatehgarh IV Transmission Ltd)
Featured photograph is for representation only.
