Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) formally transferred project SPV “Vizag Power Transmission Ltd” housing an ISTS scheme to its winning developer Adani Energy Solutions Ltd (AESL), selected under the tariff-based competitive bidding (TBCB) mechanism.
The sale and transfer of the said SPV was completed on August 14, 2026, a stock exchange filing by REC Ltd, the holding company of RECPDCL, said.
According to official information, AESL won the project quoting a tariff of Rs.8,564.11 million, being the annual transmission charges, getting the better of three other aspirants – Power Grid Corporation of India Ltd (PGCIL), Resonia Ltd and Dilip Buildcon Ltd.
As exclusively reported by tndindia.com on July 13, 2026, AESL had emerged L1 in the e-reverse auction. Subsequently, on July 24, 2026, AESL formally announced that it had received the letter of intent for the Vizag scheme.
Significance
The Vizag green hydrogen ISTS-TBCB scheme is significant on two counts: it is the first ISTS-TBCB scheme formally acquired by Adani Energy Solutions Ltd (AESL) in FY27, and it is the highest-tariff ISTS-TBCB scheme to be formally acquired by any developer during FY27 so far (up to August 14, 2026).
Scheme outline
Project SPV: Vizag Power Transmission Ltd
Bid process coordinator: RECPDCL
Winning developer: Adani Energy Solutions Ltd (AESL)
Scheme: Transmission system for proposed green hydrogen/green ammonia projects in Vizag area, Andhra Pradesh (Phase-I)
Cost: Rs.8,300 crore (estimated)
Tariff: Rs.8564.11 million per year
Project details: Read tndindia.com story dated September 30, 2025
Completion: 30 months from SPV transfer
Second scheme soon
While AESL has now formally acquired its first ISTS-TBCB scheme of FY27, the Adani Group entity is very close to its second such scheme, housed under “Satara Power Transmission Ltd.” (See tndindia.com’s exclusive story dated August 12,2026)
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