Tata Power has received the letter of intent for developing an interstate transmission system (ISTS) scheme – ERES XXXIX – in Odisha, under the tariff-based competitive bidding (TBCB) mode. For Tata Power, this would be the third greenfield ISTS-TBCB project.
According to an investor presentation by Tata Power, the private utility has received the LoI for development of an ISTS scheme formally referred to as “Eastern Region Expansion Scheme – XXXIX” or “ERES-XXXIX”.
As already reported by T&D India on October 7, 2024, Tata Power was in the fray for this project alongside three other contenders – Power Grid Corporation of India Ltd (PGCIL), Sterlite Power and Adani Energy Solutions Ltd (AESL).
Project details
ERES-XXXIX involves setting up of a new 765/400kV, 2×1500 MVA GIS substation at Gopalpur in Odisha. This substation will be connected to the existing 765/400kV Angul substation of PGCIL through a 765kV double-circuit line. The new substation will also have connectivity to OPTCL’s under-implementation 400/220kV GIS substation through a 400kV double-circuit (quad) line. OPTCL (Odisha Power Transmission Corporation Ltd) is the state transmission utility of Odisha. The total transmission line network envisaged under the scheme is around 377 ckm. The project is envisaged to cost Rs.2,500 crore and has an estimated completion date of December 2027.
Project SPV
Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has incorporated a wholly-owned subsidiary “ERES-XXXIX Power Transmission Ltd” that will eventually be transferred to Tata Power.
Third ISTS-TBCB scheme
For Tata Power, ERES-XXXIX represents the third greenfield ISTS scheme that Tata Power has won through the competitive bidding route.
Tata Power already holds the letter of intent for Eastern Region Expansion Scheme – XXXIV (ERES-XXXIV) that is housed under “Paradeep Transmission Ltd.” The formal acquisition of this subsidiary from bid process coordinator PFC Consulting Ltd (PFCCL) is yet pending. Located in Odisha, ERES-XXXIV involves 384 ckm of transmission lines with scheduled completion in October 2026.
Tata Power debuted in the greenfield ISTS-TBCB space last year by winning a project housed under “Bikaner III Neemrana II Transmission Ltd.” This SPV has been since renamed to “TP Bikaner III Neemrana II Transmission Ltd” post its formal acquisition from PFCCL, the bid process coordinator, on December 27, 2023. This project, entailing around 682 ckm of transmission lines in Rajasthan, is currently under active physical execution. In April this year, this scheme received transmission licence from CERC.
Intrastate scheme in UP
It may be mentioned that Tata Power in February this year won an intrastate transmission system (InSTS) scheme under the TBCB modality. Housed under “Jalpura Khurja Power Transmission Ltd,” this project involving 164 ckm of transmission lines is taking shape in Uttar Pradesh.
Power transmission portfolio
Tata Power currently has a transmission line portfolio of 7,049 ckm, out of which 1,607 ckm represent greenfield interstate and intrastate projects won under the competitive bidding route. 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.
Of Tata Power’s overall transmission line portfolio of 7,049 ckm, a total of 4,633 ckm is operational and the remaining 2,416 ckm is under construction.
Also read: Tata Power plans Rs.1.2 trillion investment in Rajasthan, signs MoU
Featured photograph is for representation only
