Torrent Power has made a formal entry in the interstate transmission system (ISTS) development space, under the tariff-based competitive bidding (TBCB) route.
In a brief stock exchange filing, nodal agency PFC Consulting Ltd (PFCCL) said that the project SPV “Solapur Transmission Ltd” was formally transferred to Torrent Power Ltd on March 20, 2024. Solapur Transmission Ltd was incorporated on December 14, 2023, as a wholly-owned subsidiary of PFCCL.
As already reported by T&D India, PFCCL, on February 27, 2024, had issued the letter of intent to Torrent Power as selected bidder, following the TBCB process, for the ISTS project officially termed as “Transmission system for evacuation of power from RE projects in Solapur (1,500 mw) SEZ in Maharashtra.” [SEZ refers to solar energy zone]
It is learnt that Power Grid Corporation of India Ltd (PGCIL), Sterlite Power and India Grid Trust had qualified for opening of initial price bids.
Torrent Power had quoted the winning bid of Rs.50 crore, as the annual transmission charges.
Among other elements, the project involves setting up of a new Solapur Pooling Station (PS) equipped with 400/220kV, 4×500 MVA ICTs and 2×125 MVAr, 420kV bus reactors. Torrent Power will also build a 400kV double-circuit line running around 44 km from the existing Solapur substation owned by PGCIL to the upcoming Solapur PS. The project will also entail two 400kV line bays at PGCIL’s Solapur substation for termination of the aforementioned transmission line. The ISTS project will be developed under the build, own, operate & transfer (BOOT) model with a concession period of 35 years, inclusive of an estimated 24 months for construction.
The “Solapur Transmission Ltd” project, estimated to cost around Rs.470 crore, aims to facilitate RE evacuation of 1.5 GW from upcoming solar power plants in Solapur. A total of 2.5 GW of RE potential has been estimated at Solapur, out of which 1 GW will be directly injected into PGCIL’s existing Solapur substation. The project under discussion will help evacuation of the remaining 1.5 GW by setting up a new pooling station at Solapur and connecting it with PGCIL’s existing Solapur substation.
Featured photograph for representation only
