PGCIL acquires project SPV of Barmer HVDC transmission scheme won under TBCB
- September 24, 2026
Power Grid Corporation of India Ltd (PGCIL) has formally acquired the project SPV associated with the Barmer HVDC interstate transmission scheme that the Central PSU had won under the tariff-based competitive bidding (TBCB) mechanism.
The formal transfer of the project SPV “Barmer HVDC Power Transmission Ltd” from bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) to PGCIL, took place on September 23, 2026.
On August 23, 2026, tndindia.com had exclusively reported that PGCIL had emerged L1 bidder for the Barmer HVDC scheme with a tariff quote of Rs.32443.25 million per year. (Read full story). Subsequently, PGCIL announced that it had won the letter of intent for this scheme from RECPDCL, on September 2, 2026.
This is the largest ISTS-TBCB scheme in terms of tariff (Rs.32443.25 million per year) to be transferred in FY27 so far, and the second largest such in history, only after the Khavda V-A HVDC scheme, also acquired by PGCIL, at a tariff of Rs.40828.67 million per year. (See table ahead)
Barmer HVDC scheme
Project SPV: Barmer HVDC Power Transmission Ltd
Scheme: Transmission system for evacuation of power from Rajasthan REZ Phase-IV (Part 5: 6 GW) [Barmer Complex] Barmer-II: 6 GW (Solar) (LCC Configuration)
Tariff: Rs.3,2443.25 million per year (around Rs.3,244 crore per year)
Description: The project comprises establishment of 6,000 MW, ±800kV HVDC terminals at Barmer-II (Rajasthan) and South Kalamb substation (Maharashtra) along with augmentation of South Kalamb substation. It also involves construction of ±800kV HVDC bipole line between Barmer-II & South Kalamb (around 1,000 km) traversing through Rajasthan, Gujarat and Maharashtra, and construction of 400kV transmission lines traversing Rajasthan, along with the associated bays. The project also entails installation of two SynCon units at Barmer-II PS along with the associated bays.
HVDC scorecard
With the formal transfer of Barmer HVDC, a total of four ISTS-TBCB schemes involving HVDC architecture have so been transferred to winning developers.
As can be seen from the table, PGCIL and Adani Energy Solutions Ltd (AESL) have won two schemes each. However, in terms of tariff-based market share, PGCIL has a slightly higher share of 55 per cent, as against 45 per cent in the case of AESL.
Featured photograph shows the formal transfer of “Barmer HVDC Power Transmission Ltd” from RECPDCL to PGCIL, on September 23, 2025 (Photo: PGCIL)