REC Power Development & Consultancy Ltd (RECPDCL) has handed over project special purpose vehicles of two interstate transmission system (ISTS) to successful bidders, on May 30, 2024.
Here are details on the two cases:
Project SPV: Khavda IV-E2 Power Transmission Ltd
Successful bidder: Power Grid Corporation of India Ltd
Scheme: Transmission System for evacuation of power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV (7 GW): Part E2
Project SPV: NERES XVI Power Transmission Ltd
Successful bidder: Techno Electric & Engineering Ltd
Scheme: North Eastern Region Expansion Scheme-XVI (NERES-XVI)
Both the successful bidders (transmission service providers) were selected using the tariff-based competitive bidding (TBCB) modality for which RECPDCL was the bid process coordinator.
On April 17, 2024, PGCIL announced that it was declared successful bidder for three ISTS-TBCB schemes, including Khavda IV-E2 Power Transmission Ltd, discussed in this story. RECPDCL was the bid process coordinator for all the three schemes. It is therefore likely that RECPDCL will transfer the project SPVs of the remaining two schemes — Rajasthan IV C Power Transmission Ltd and Rajasthan IV E Power Transmission Ltd — to PGCIL in the near future.
In the case of Techo Electric, the winning of NERES XVI Power Transmission Ltd represents the re-entry of the company in the power transmission development space, as reported by T&D India on April 29, 2024.
According to information available with T&D India, in FY25 so far, three project SPVs of ISTS-TBCB projects have been formally transferred to their successful developers. Apart from the two discussed in this story, India Grid Trust was formally handed over “Kallam Transco Ltd” in early April 2024. T&D India further estimates that four ISTS-TBCB schemes, all recently won by PGCIL, are pending formal transfer of SPV.
Also read: RECPDCL Incorporates Project SPV For ISTS-TBCB Scheme In Eastern Region
Featured photograph shows the formal hand over of “Khavda IV-E2 Power Transmission Ltd” by RECPDCL to PGCIL.
