Power Grid Corporation of India Ltd (PGCIL) has been declared as successful developer under the tariff-based competitive bidding (TBCB) mechanism for developing an interstate transmission system (ISTS) scheme housed under “Vindhyachal Varanasi Transmission Ltd.”
As reported by T&D India on September 10, 2025, PGCIL was among six other contenders that had qualified for opening of initial price bids. These included: Resonia Ltd, Adani Energy Solutions Ltd, Enerica Infra 1 Pvt Ltd (a subsidiary of IndiGrid), Dineshchandra R Agrawal Infracon Pvt Ltd (DRAIPL), KCC Buildcon Pvt Ltd and HG Infra Engineering Ltd.
Details on bidders that made it to the final bidding (e-reverse auction) stage alongside PGCIL are however not yet known.
The letter of intent for this scheme was received by PGCIL on September 16, 2025, the Central PSU said in a regulatory filing.
The scheme is termed as “Interregional (NR-WR) transmission system strengthening to relieve the loading of 765kV Vindhyachal-Varanasi D/C line” and has been housed under a project SPV “Vindhyachal Varanasi Transmission Ltd” that is currently a wholly-owned subsidiary of bid process coordinator PFC Consulting Ltd (PFCCL.)
With an anticipated cost of Rs.2,368 crore and a completion period of 24 months, the scheme essentially involves building a new 765kV AIS substation at Prayagraj in Uttar Pradesh, and connecting the same to the existing Vindhyachal Pooling Station in Madhya Pradesh, via a 765kV double-circuit line running 220 km.
Third scheme for PGCIL
This is the third ISTS-TBCB scheme this fiscal for which PGCIL has received the letter of intent after Davangere Power Transmission Ltd (August 27, 2025) and Robertsganj Power Transmission Ltd (September 4, 2025). Added to these three schemes is “MEL Power Transmission Ltd” for which the formal SPV transfer took place on June 4, 2025. This takes the total number of PGCIL’s ISTS-TBCB wins this year so far to four. Incidentally, PGCIL has renamed the acquired SPV to “Powergrid Mahan Rewa Transmission Ltd.”
ISTS-TBCB in FY26
In FY26 so far (up to September 16, 2025), a total of five ISTS-TBCB schemes have been formally transferred to as many successful developers. Besides, eight other schemes are under various stages of formal transfer. Here is the broad status:
Also read: PGCIL wins Sonbhadra pumped storage ISTS scheme, under TBCB
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