A new entrant is seen emerging in the power transmission development space, as seen from the initial bidding results of an ISTS-TBCB scheme housed under “Banaskantha Transco Ltd.”
The new entrant is Gurugram-headquartered KCC Buildcon Pvt Ltd, which specializes in building of roads & highways.
Interestingly, KCC is the only other bidder alongside Power Grid Corporation of India Ltd (PGCIL) that has qualified for opening of initial price bids for “Banaskantha Transco Ltd.”
The relatively small project, estimated to cost Rs.172 crore and with a gestation period of 24 months, is termed as “Augmentation of transformation capacity at Banaskantha (Raghanesda) PS (GIS).”
By current timelines, bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) is expected to complete the bidding process and handover the project SPV to the successful bidder by March 10, 2025.
The project involves augmentation of transformation capacity at the existing Banaskantha (Raghanesda) GIS pooling station in Gujarat that is owned by Power Grid Corporation of India Ltd (PGCIL).
According to information available, two interconnecting transformers (ICTs) of 500 MVA, 400/220kV each will be put up at the said pooling station, taking the total number of such ICTs to four.
According to information contained in its corporate website, KCC Buildcon Pvt Ltd was incorporated in 2009 after taking over the running business of Kundu Construction Company, a partnership firm set up in 1999.
New entrants
The ISTS-TBCB space has seen a number of new entrants over the past 2-3 years. These include a mix of large diversified corporate houses as well as EPC contractors, all grooming into developers in the power transmission space. The newcomers, which include those that have formally acquired at least one ISTS-TBCB project in the past three years are: Apraava Energy, Dineschandra R. Agrawal Infracon Pvt Ltd, Resurgent Power Ventures, G R Infraprojects Ltd, Megha Engineering & Infrastructures Ltd, Reliance Industries, Tata Power, Techno Electric & Engineering Company Ltd and Torrent Power.
These new entrants have broadened the power transmission developer base traditionally dominated by Power Grid Corporation of India Ltd, Adani Energy Solutions Ltd and Sterlite Power.
Also read: One new entrant among entities qualified for “Rajasthan 4B” ISTS scheme
Featured photograph (source: Godrej & Boyce) is for representation only
