Power Grid Corporation of India Ltd (PGCIL) has acquired project special purpose vehicle “Ramgarh II Transmission Ltd” that houses an interstate transmission system (ISTS scheme in Rajasthan.
In a stock exchange filing, PGCIL said that it has completed the acquisition of “Ramgarh II Transmission Ltd” from the bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) that had incorporated the project SPV on April 20, 2022.
PGCIL, in the first week of September 2023, had announced that it had emerged successful bidder for the ISTS scheme housed under “Ramgarh II Transmission Ltd” and officially termed as: ““Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part C1”, under the tariff-based competitive bidding (TBCB) mode.
The acquisition was completed on October 26, 2023 and the said project SPV now ceases to be a subsidiary of RECPDCL.
The project comprises establishment of a new 765/400kV substation along with STATCOM at Ramgarh, a 765kV double-circuit transmission Line and associated bays extension works at other existing substation in Rajasthan. The project is to be completed in 24 months, which is by around mid-October 2025,
As per the standard practice “Ramgarh II Transmission Ltd” will now proceed to seek grant of transmission licence and adoption of transmission tariff from Central Electricity Regulatory Commission.
Beawar Dausa
Alongside the announcement of Ramgarh II Transmission in early September 2023, PGCIL had indicated that it had emerged as successful bidder for a similar project housed under “Beawar Dausa Transmission Ltd.” It is therefore expected that this project SPV would also be formally acquired by PGCIL in the near future.
Both the projects are part of evacuation of 20 GW of renewable energy from renewable energy zones (REZ) in Rajasthan, under Phase III. While Ramgarh II will be dealing with Part C1 of the project, Beawar Dausa concerns Part H and had PFC Consulting Ltd (PFCCL) as the bid process coordinator.
Also read: PGCIL Clinches Another ISTS Scheme In Rajasthan
Featured photograph (source: Sterlite Power) is for representation only.
