Power Grid Corporation of India Ltd (PGCIL) has been named successful bidder for two interstate transmission system (ISTS) schemes, under the tariff-based competitive bidding (TBCB) mode.
In a stock exchange filing, PGCIL said that it has received the letters of intent for developing the following two schemes under the build, own, operate & transfer (BOOT) mode:
- Augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 scheme)
- Augmentation of transformation capacity by 3×500 MVA, 400/220kV ICTs (6th and 8th) and 1×1500 MVA, 765/400kV ICT (4th) at Bidar PS
The letters of intent were received by PGCIL on January 6, 2025, the regulatory filing said without providing further details.
According to information available with T&D India, here are salient features of the two schemes:
Scheme: Augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 scheme)
Bid process coordinator: REC Power Development & Consultancy Ltd
Project SPV: Khavda V-B1B2 Power Transmission Ltd
Location: Gujarat
Estimated cost: Rs.466 crore
Gestation period: 24 months (from date of SPV transfer)
Other contender(s): Adani Energy Solutions Ltd
Click here for T&D India’s related story dated December 24, 2024
Scheme: Augmentation of transformation capacity by 3×500 MVA, 400/220kV ICTs (6th and 8th) and 1×1500 MVA, 765/400kV ICT (4th) at Bidar PS
Bid process coordinator: REC Power Development & Consultancy Ltd
Project SPV: Bidar Transco Ltd
Location: Karnataka
Estimated cost: Rs.288 crore
Gestation period: 24 months (from date of SPV transfer)
Other contender(s): Megha Engineering & Infrastructures Ltd
Click here for T&D India’s related story dated January 3, 2025
Four schemes pending formal award
Including the two schemes discussed above, PGCIL now has five ISTS-TBCB schemes for which it has been named L1 bidder or has received the letter of intent, but the formal SPV acquisition is pending. The other three schemes are housed under: Shongtong Power Transmission Ltd, Kudankulam ISTS Transmission Ltd and Gadag II & Koppal II Transmission Ltd.
As analyzed in a recent T&D India special report, PGCIL was the most successful ISTS-TBCB developer in the April-December period of FY25 having acquired 16 of the 29 schemes that were formally transferred by the respective bid process coordinator to the successful developer.
Key to abbreviations: KPS1=Khavda Pooling Station-1; KPS2=Khavda Pooling Station-2;ICT = Interconnecting transformer; PS = pooling station
Also read: PGCIL sweeps ISTS-TBCB market with over 60 per cent tariff share
Featured photograph is for representation only
