Power Grid Corporation of India Ltd (PGCIL) has been declared as successful bidder for a transmission scheme for renewable energy evacuation in Karnataka.
In a brief stock exchange filing, PGCIL said that it has declared as successful bidder under tariff-based competitive bidding (TBCB) to establish an interstate transmission system (ISTS) project termed as “ “Transmission Scheme for Integration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-A & B) and Gadag-II (Phase-A) in Karnataka,” on build, own, operate & transfer (BOOT) basis.
PGCIL received the letter of intent on December 5, 2023, the filing said.
The project comprises establishment of a new 765/400kV Koppal- II Pooling Station; a new 400/220kV Gadag-II Pooling Station; two 765kV double-circuit transmission lines traversing Karnataka; one 400kV double-circuit transmission line traversing Karnataka as well as associated bay extension works at Narendra and Raichur substations.
Project cost & SPV
According to information available with T&D India but not contained in the PGCIL filing, the project is estimated to cost Rs.2,564 crore and has a envisaged completion period of 24 months from the date of SPV transfer.
It is further learnt that the bid process coordinator PFC Consulting Ltd (PFCCL) has incorporated project SPV “Koppal II Gadag II Transmission Ltd” to develop this project. This SPV will be transferred to PGCIL in due course.
Objective
The broad objective of the scheme is to facilitate evacuation of 1 GW of renewable energy from each of Koppal-II and Gadag-II pooling stations. This scheme is part of the overall plan of evacuation of 17 GW of RE (solar: 9 GW and wind: 8 GW) from Karnataka.
Four in race
It is reliably learnt that other contenders for this scheme were Sterlite Power, Tata Power and Adani Energy Solutions Ltd.
Phase B
The “Koppal II Gadag II” scheme discussed above has an extended component that is being bid under a separate project termed as “Transmission Scheme for integration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-B) in Karnataka.” This scheme is expected to cost Rs.1,881 crore and would have a gestation period of 36 months from the date of SPV transfer.
Also read: PGCIL Wins Two Interstate TBCB Schemes For RE Evacuation
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