Power Grid Corporation of India Ltd (PGCIL) has been issued the letters of intent for development of two interstate transmission system (ISTS) schemes associated with renewable energy evacuation from Rajasthan, under the tariff-based competitive bidding (TBCB) modality.
The LoIs were issued on October 21, 2024, PGCIL said in two separate stock exchange notifications dated October 22, 2024.
The two schemes are formally referred to as:
- Transmission system for evacuation of power from Rajasthan REZ Ph -IV (Part-3: 6 GW) [Bikaner complex]: Part A
- Transmission system for evacuation of power from Rajasthan REZ Ph -IV (Part-3: 6 GW) [Bikaner complex]: Part B
The “Part A” project involves setting up of a new 765/400/220kV Bikaner IV Pooling substation along with STATCOM and other equipment, 765kV and 400kV double-circuit line traversing Rajasthan, Haryana and Punjab. Besides, there would be bays extension works for the above lines at other existing substations in Haryana and Punjab.
“Part B” entails setting up of a new 765/400kV Siwani substation along with STATCOM and other equipment. Besides, there would be 765kV and 400kV double-circuit lines in Rajasthan and Haryana, apart from bay extension works in the two states mentioned.
Four contenders
As reported by T&D India on October 8, 2024, PGCIL was in the fray for these two projects along with three other contenders – Sterlite Power, Adani Energy Solutions Ltd (AESL) and Tata Power.
Project SPVs
These two ISTS schemes are respectively housed under “Bikaner A Power Transmission Ltd” and “Bikaner B Power Transmission Ltd.” Both these are currently wholly-owned subsidiaries of REC Power Development & Consultancy Ltd (RECPDCL) – the bid process coordinator, and will be formally transferred to PGCIL in due course.
Project cost
Going by estimates made by National Committee on Transmission (NCT), the total cost of the two schemes is around Rs.11,325 crore. Each scheme will have a gestation period of 24 months from the date of SPV transfer, and they are both expected to commission concurrently.
PGCIL: Most successful
In FY25 so far, PGCIL has been the most successful developer in the ISTS-TBCB space. Apart from formally winning as many as ten schemes, the Central PSU has been issued the letter of intent for four other schemes, including the two schemes discussed in this story.
PGCIL is also in the race for at least four ISTS-TBCB schemes for which the final bidder would be announced soon. Included in these schemes is “Khavda V-A Power Transmission Ltd” that is expected to cost nearly Rs.25,000 crore. Seasoned players like Sterlite Power and Adani Energy Solutions Ltd are also in the race for these four schemes, while Tata Power is in the fray for one.
Featured photograph (source: ReNew Power) is for representation only
