Tata Power has formally acquired “ERES-XXXIX Power Transmission Ltd” – a project SPV for the development of an ISTS scheme in Odisha – from bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL).
This becomes the third greenfield ISTS project formally awarded to Tata Power under the tariff-based competitive (TBCB) route.
As reported by T&D India on November 4, 2024, Tata Power received the letter of intent for developing the ISTS project “Eastern Region Expansion Scheme – XXXIX” housed under ERES-XXXIX Power Transmission Ltd. Tata Power was contending for this project alongside three other bidders – PGCIL, Sterlite Power and AESL (Read more)
This formal acquisition that took place on November 14, 2024, now completes the award process.
ERES-XXXIX Power Transmission was incorporated on March 27, 2024 as a wholly-owned subsidiary of RECPDCL, and will now become a wholly-owned subsidiary of Tata Power.
Project details
ERES-XXXIX is estimated to cost around Rs.2,500 crore and is scheduled for completion by December 31, 2027.
The project involves setting up of a 765/400kV, 2×1500 MVA GIS substation at Gopalpur in Odisha, 199 km of 765kV line and 25 km of 400kV line along with associated works. The 765kV line will connect the upcoming Gopalpur GIS substation to the 400kV GIS substation at Gopalpur being built by state utility Odisha Power Transmission Corporation Ltd (OPTCL).
Third ISTS-TBCB scheme
For Tata Power, this becomes the third greenfield ISTS project won under the tariff-based competitive bidding (TBCB), formally acquired from the respective bid process coordinator. Here are the details:
Project SPV: Bikaner III Neemrana II Transmission Ltd [since renamed to TP Bikaner III Neemrana Transmission Ltd]
BPC: PFC Consulting Ltd
ISTS scheme: Transmission System for evacuation of power from Rajasthan REZ Phase-IV (Part 1) – Bikaner Complex Part C
Location: Rajasthan
Date of SPV acquisition: December 27, 2023
Project SPV: Paradeep Transmission Ltd
BPC: PFC Consulting Ltd
ISTS scheme: Eastern Region Expansion Scheme — XXXIV
Location: Odisha
Date of SPV acquisition: November 4, 2024
Project SPV: ERES-XXXIX Power Transmission Ltd
BPC: REC Power Development & Consultancy Ltd
ISTS scheme: Eastern Region Expansion Scheme — XXXIX
Location: Odisha
Date of SPV acquisition: November 14, 2024
Tata Power, it may be mentioned, has a presence in the power transmission development space through its 26 per cent equity stake in Resurgent Power Ventures that acquired one intrastate scheme in Uttar Pradesh (South Eastern UP Power Transmission Company Ltd) and one interstate scheme (NRSS XXXVI). Both these acquisitions were made in 2022. SEUPPTCL has a transmission line network of 1,521 ckm (out of which 789 ckm is operational) while NRSS XXXVI has a network of 302 ckm of which 225 is operational.
Featured photograph shows handing over of “ERES-XXXIX Power Transmission Ltd” by T.S.C. Bosh, CEO, RECPDCL to Tarun Katiyar, CEO, Tata Power Trading Company Ltd in the presence of senior officials of RECPDCL, Tata Power Company Ltd and Central Transmission Utility of India Ltd. (Photo: RECPDCL)
