Megha Engineering & Infrastructures Ltd (MEIL) has been formally awarded an intrastate transmission system (InSTS) scheme in Uttar Pradesh.
Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) in a stock exchange notification said that the project SPV “Meerut Shamli Power Transmission Ltd” was formally transferred to MEIL on April 6, 2024. MEIL won the project under the tariff-based competitive bidding (TBCB) route
According to information available, MEIL’s tariff quote was Rs.221.90 million, which was far lower than the Rs.455.40 million quoted by Power Grid Corporation of India Ltd (PGCIL) – the only other contender. The quote represents the levelized annual transmission charges that prevail throughout the tenure of the transmission service agreement (TSA).
The underlying intrastate transmission project involves construction of a 400kV double-circuit, running around 100 km, from the 765kV Meerut substation of PGCIL to the 400kV Shamli GIS substation of Uttar Pradesh Power Transmission Corporation Ltd (UPPTCL). The project is scheduled to commission in 12 months, which is by April 5, 2025.
Third InSTS win in UP
According to information available with T&D India, this Meerut-Shamli project would be the third intrastate transmission scheme in Uttar Pradesh won by MEIL under the tariff-based competitive bidding route. The earlier two – Tirwa Transmission Ltd and Jewar Transmission Ltd – were formally handed over to MEIL in early March this year. MEIL is also present in the InSTS space in Madhya Pradesh through “MP Power Transmission Package-I Ltd” that was won under the TBCB route in January 2023.
Jalpura-Khurja scheme
In an independent development, RECPDCL also formally transferred another intrastate transmission system scheme in Uttar Pradesh, Jalpura Khurja Power Transmission Ltd, to Tata Power, the successful bidder under the TBCB mode. As already reported by T&D India on February 19, 2024, Tata Power was named the successful bidder of this scheme and was issued the letter of intent by RECPDCL, the bid process coordinator.
Also read: Megha Engineering Wins Two Intrastate Schemes In TBCB Mode
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