Three interstate transmission system (ISTS) schemes under the tariff-based competitive bidding (TBCB) route were formally transferred to successful bidders during the first quarter (Q1: April to June) of FY25.
According to a special study by T&D India based on official statistics, three ISTS-TBCB schemes were formally handed over to successful bidders while none were completed during Q1FY25.
Schemes awarded
The broad details of the three ISTS-TBCB schemes formally transferred to successful developers are:
Project SPV: Kallam Transco Ltd
Scheme: Western Region Network Expansion Scheme in Kallam Area
Developer: India Grid Trust (IndiGrid)
Date of SPV transfer: April 5, 2024
Project Cost: Rs.160 crore
Project SPV: Khavda IV-E2 Power Transmission Ltd
Scheme: Transmission System for evacuation of power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV (7 GW): Part E2
Developer: Power Grid Corporation of India Ltd
Date of SPV transfer: May 30, 2024
Project Cost: Rs.697 crore
Project SPV: NERES XVI Power Transmission Ltd
Scheme: Northeastern Region Expansion Scheme (NERES) XVI
Developer: Techno Electric & Engineering Ltd
Date of SPV transfer: May 30, 2024
Project Cost: Rs.289 crore
Schemes pending transfer
According to information available with T&D India, PGCIL received the letter of intent for four ISTS-TBCB schemes in Q1 of FY25. However, the project SPVs were not formally transferred to PGCIL, as of June 30, 2024 (end of Q1FY25). All the four project relate to evacuation schemes from renewable energy zones in Jaisalmer and Barmer regions of Rajasthan, and together envisage investment of nearly Rs.11,500 crore. The SPVs in question are:
- Sirohi Transmission Ltd
- Rajasthan IV C Power Transmission Ltd
- Beawar-Mandsaur Transmission Ltd
- Rajasthan IV E Power Transmission Ltd
No schemes commissioned
No ISTS-TBCB schemes were commissioned during Q1FY25. This is also reflected in a separate story of July 15, 2024 “Zero line addition to ISTS network in Q1FY25”. It may also be noted that as of April 30, 2024, it was expected that five ISTS-TBCB schemes would be commissioned by end of Q1FY25, thereby augmenting the ISTS network by 1,545 ckm of transmission lines and 6,820 MVA of substation capacity. However, none of these schemes could commission by the anticipated date. In fact, four of these schemes are now likely to commission by end of July 2024, while one is now expected to complete by December 2024.
Outlook for Q2FY25
Based on schedules of ISTS-TBCB schemes as of June 30, 2024, it is expected that six will be commissioned by September 30, 2024, which is the end of Q2FY25. These six include four that have missed their Q1FY25 deadline, and two others. While PGCIL is the developer of two of these six schemes, Sterlite Power and ReNew Power are associated with two apiece. These six ISTS-TBCB schemes, when commissioned, are envisaged to add around 1,450 ckm of transmission lines and 3,800 MVA of transformation capacity to the ISTS network.
Also read: ISTS-TBCB Market Sees Hectic Activity In FY24
