Power Grid Corporation of India Ltd (PGCIL) is set to formally win an interstate transmission system (ISTS) scheme housed under “Barmer I Transmission Ltd,” in the tariff-based competitive bidding (TBCB) modality.
In a brief stock exchange communication, PGCIL said that it has been has been declared as the successful bidder under tariff-based competitive bidding to establish interstate transmission system for the project namely “Transmission system for evacuation of power from Rajasthan REZ Ph -IV (Part-2: 5.5 GW) (Jaisalmer/Barmer Complex): Part F (By clubbing Part F1 & F2)” on build, own, operate and transfer (BOOT) basis.
The letter of intent (LoI) has been received by Power Grid Corporation of India Ltd on October 9, 2024, the stock exchange filing said.
The project comprises establishment of new 765/400/220kV Barmer-I pooling substation, 765kV & 400kV double-circuit transmission lines and associated bays extension works at other existing substation in Rajasthan.
According to information available with T&D India, the project for which PFC Consulting Ltd (PFCCL) is the bid process coordinator is housed under a project SPV “Barmer I Transmission Ltd” that was incorporated by PFCCL on January 18, 2024, as its wholly-owned subsidiary. This SPV will now be transferred to PGCIL in due course.
Three contenders
This project has been under bidding since October 2023 and the last date for submission of bids was extended on at least six occasions. The technical bids were opened on April 19, 2024, and three bidders – PGCIL, Adani Energy Solutions Ltd and Sterlite Power – were qualified for opening of price bids.
Project outline
Estimated to cost around Rs.2,735 crore (as per National Committee on Transmission), the project is expected to commission in 24 months from the date of SPV transfer. Apart from establishing a new 765/400/220kV Barmer-I Pooling Station in Rajasthan, the project involves interconnectivity with the Sirohi Pooling Station that is coming up through another ISTS-TBCB project “Sirohi Transmission Ltd,” also being developed by PGCIL.
Fifth letter of intent
According to estimates made by T&D India, “Barmer I Transmission Ltd” is the fifth ISTS-TBCB project for which PGCIL has been named successful bidder but for which the formal SPV transfer is yet pending. The other four schemes are:
- South Olpad Transmission Ltd
- Rajasthan IV H1 Power Transmission Ltd
- Khavda PS1 and 3 Transmission Ltd
- Jam Khambhaliya Transmission Ltd
PGCIL is also in the final race for at least eight ISTS-TBCB schemes for which the results are awaited.
As discussed in an exclusive T&D India report, PGCIL was the most successful developer in H1FY25, winning seven of the 14 ISTS-TBCB schemes that were formally awarded to successful developers.
Featured photograph is for representation only
