Power Grid Corporation of India Ltd (PGCIL), on March 3, 2025, received the letter of intent as successful developer for three interstate transmission system (ISTS) schemes under the tariff-based competitive bidding (TBCB) modality.
In a brief stock exchange filing, PGCIL said that it has been declared as successful bidder for three ISTS schemes under the TBCB framework. These schemes are collectively spread over Rajasthan, Madhya Pradesh, Gujarat, Andhra Pradesh and Karnataka.
The three projects are:
Scheme: Transmission system for evacuation of power from Rajasthan REZ Phase-V (Part-1: 4 GW) [Sirohi/Nagaur] Complex
Scope: Augmentation of transformation capacity of under-construction Sirohi substation in Rajasthan, and putting up 765kV lines traversing Rajasthan and Madhya Pradesh.
Scheme: Augmentation of transformation capacity of Banaskantha (Raghanesda) PS (GIS)
Scope: ICT augmentation works at existing Banaskantha (Raghanesda) PS (GIS) in Gujarat
Scheme: Transmission system for integration of Kurnool-IV REZ – Phase-I (for 4.5 GW)
Scope: Development of new 765/400/220kV Kurnool-IV Pooling Station in Andhra Pradesh and erecting new 765kV and 400kV lines traversing Andhra Pradesh and Karnataka.
According to information available with T&D India but not contained in the PGCIL filing, the bid process coordinator (BPC) for each of the three schemes is REC Power Development & Consultancy Ltd (RECPDCL).
Further, the project SPVs housing the three schemes, in respective order, are: Rajasthan V Power Transmission Ltd, Banaskantha Transco Ltd and Kurnool-IV Transmission Ltd.
Bidders in the fray
Kurnool-IV saw five bidders qualified for submission of price bids. Apart from PGCIL, the list included Adani Energy Solutions Ltd, Resonia (formerly Sterlite Power), Tata Power and Megha Engineering & Infrastructures Ltd. (See T&D India’s story dated February 25, 2025)
In the case of Banaskantha Transco, the only other bidder was KCC Buildcon Pvt Ltd, as reported in T&D India’s story dated February 18, 2025.
For Rajasthan V, PGCIL was in the fray alongside Resonia and Adani Energy Solutions Ltd, as discussed in T&D India’s story of February 27, 2025.
Project Cost
While the Banaskantha project is a relatively small scheme estimated to cost around Rs.170 crore, the remaining two schemes envisage outlay of over Rs.5,000 crore, each. These figures are as per estimates made by National Committee on Transmission (NCT).
Formal transfer of project SPV
As per T&D India estimates, there are six ISTS-TBCB schemes (including the three discussed in this story) for which PGCIL has received the letter of intent or has been declared L1 bidder, and for which the formal acquisition of project SPV from the respective BPC is pending.
Further, PGCIL has qualified for five other ISTS-TBCB schemes, all being managed by PFC Consulting Ltd, the results of which are expected later this month. For details, please see T&D India’s story dated March 4, 2025.
Featured photograph is for representation only
