Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has incorporated two wholly-owned subsidiaries that will act as project special purpose vehicles for as many ISTS-TBCB schemes. Both the schemes are currently under bidding.
Here are broad details of the two subsidiaries
Project SPV: Bidar Transco Ltd
Date of incorporation: November 5, 2024
ISTS 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
Project location: Karnataka
Project Cost (Estimated): Rs.288 crore
Implementation period: 24 months
Current status: Under bidding, response to RfPs to be opened on December 16, 2024
Project SPV: Tuticorin Power Transmission Ltd
Date of incorporation: November 5, 2024
ISTS scheme: Transmission system for proposed green hydrogen/green ammonia projects in Tuticorin area
Project location: Tamil Nadu
Project Cost (Estimated): Rs.2,617 crore
Implementation period: 30 months
Current status: Under bidding, response to RfPs to be opened on December 20, 2024
These SPVs will be eventually handed over to the respective successful bidder, selected by the tariff-based competitive bidding (TBCB) mechanism.
Pending SPVs
According to information available with T&D India, RECPDCL will soon be incorporating at least three more SPVs for ISTS-TBCB schemes that are currently under bidding. These are:
- Network expansion scheme in WR to cater to pumped storage potential near Talegaon (Pune)
- Augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 scheme)
- Transmission system for integration of Kurnool-IV REZ – Phase-I (for 4.5 GW)
Key to abbreviations: PS = Pooling Station; ICT = Interconnecting transformer
Also read: RECPDCL transfers SPVs for two ISTS projects to winning bidders
