Power Grid Corporation of India Ltd (PGCIL) is set to three more interstate transmission system (ISTS) schemes, under the tariff-based competitive bidding (TBCB) route.
Addressing an investor conference recently, R.K. Tyagi, CMD, PGCIL, said that the company was set to formally win three ISTS-TBCB schemes for which PGCIL emerged L1 during the bidding process conducted in July 2024.
These three schemes will be in addition to the mega HVDC-based ISTS-TBCB scheme housed under “Rajasthan Part I Power Transmission Ltd” for which PGCIL was declared L1 during Q1FY25.
The three schemes will have an aggregate project outlay of around Rs.6,650 crore, as estimated by National Committee on Transmission (NCT). For each of these three schemes, PFC Consulting Ltd is acting as the bid process coordinator (BPC).
Here are broad details of the schemes, as per information available with T&D India:
Project SPV: South Olpad Transmission Ltd
Project: Transmission system for evacuation of power from potential renewable energy zone in Khavda area of Gujarat under Phase-IV (7GW): Part B
Location: Gujarat
Project Cost: Rs.4,766 crore
Other bidders in final stage: Sterlite Power, Adani Energy Solutions
Project SPV: Bhadla-III & Bikaner-III Transmission Ltd
Project: Transmission system strengthening for interconnections of Bhadla-III & Bikaner- III Complex
Location: Rajasthan
Project Cost: Rs.1,382 crore
Other bidders in final stage: Sterlite Power, Adani Energy Solutions, Techno Electric & Engineering Company
Project SPV: Khavda PS1 and 3 Transmission Ltd
Project: Provision of dynamic reactive compensation at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3)
Location: Gujarat
Project Cost: Rs.501.09 crore
Other bidders in final stage: Adani Energy Solutions
Performance in FY25
According to an analysis done by T&D India, PGCIL has had a very successful stint with ISTS-TBCB schemes in FY25 so far. Between the period April 1, 2024 and July 31, 2024, a total of four ISTS-TBCB schemes were formally awarded, in that the project SPV was transferred from the bid process coordinator to the successful developer. Of these four schemes, PGCIL was associated with one, namely “Khavda IV-E2 Power Transmission Ltd”. The remaining three went to India Grid Trust (one scheme) and Techno Electric & Engineering (two schemes).
Apart from Khavda IV-E2 that was formally transferred on May 30, 2024, PGCIL has been awarded the letter of intent for four ISTS-TBCB schemes. Moreover, it has been declared L1 in four other schemes as discussed in this story. However, the transfer of project SPV is yet pending in all the eight cases.
Thus, PGCIL has effectively won nine ISTS-TBCB schemes in FY25 so far, as per estimates made by T&D India. The total project outlay of these nine scheme is around Rs.30,000 crore, according to estimates made by National Committee on Transmission (NCT).
Note: “Other bidders in the final stage” refers to those bidder that qualified for opening of price bids.
