Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has transferred project SPV “Rajgarh Transmission Ltd” to the successful developer GR Infraprojects Ltd.
In a stock exchange communication, RECPDCL, a wholly-owned subsidiary of REC Ltd, said that the entire shareholding of Rajgarh Transmission Ltd, comprising 50,000 equity shares, presently held by RECPDCL, has been transferred at par value along with assets and liabilities on May 30, 2022, to GR Infraprojects Ltd.
GR Infraprojects is the successful bidder, selected through tariff-based competitive bidding (TBCB) mode for development of an interstate transmission scheme, officially known as “Transmission system for evacuation of power from renewable energy (RE) projects in Rajgarh (2,500 mw) SEZ in Madhya Pradesh.”
As reported by T&D India on March 12, 2022, GR Infraprojects had emerged as L1 bidder for the said transmission scheme.
According to information available with T&D India, this marks the entry of GR Infraprojects Ltd in the power transmission development space. The company has hitherto been associated with other infrastructure projects – mainly roadways and highways.
RECPDCL had formed a wholly-owned special purpose vehicle (subsidiary) called “Rajgarh Transmission Ltd”, in around July 2021, to implement this transmission scheme. This SPV has now been transferred to GR Infraprojects Ltd, and therefore ceases to be a subsidiary of RECPDCL.
According to information available with T&D India, this transmission scheme will be implemented in two phases – meant for evacuation of 1,500 mw and 1,000 mw, respectively.
In the first phase, the key transmission elements envisaged are: a 400/220kV, 3×500 MVA substation at Pachora SEZ pooling point, with a 125 MVAR bus reactor; a 400kV double-circuit line from Pachora SEZ PP to Bhopal substation of Sterlite Power. Two 400kV line bays at Bhopal (Sterlite) substation are also envisaged.
Pips seasoned players
It is reliably learnt that seasoned players had qualified for submitting price bids for this project. Those qualified included names like Power Grid Corporation of India, Adani Power Transmission, Sterlite Power, Torrent Power, Apraava Energy (formerly CLP India), Tata Power and Megha Engineering & Infrastructure Ltd. Two others in the race included DBL Transmission and Montecarlo Transmission.
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