Adani Energy formally acquires South Kalamb interstate-TBCB transmission scheme
- March 31, 2026
Adani Energy Solutions Ltd (AESL) has formally acquired project SPV “South Kalamb Power Transmission Ltd,” from bid process coordinator PFC Consulting Ltd (PFCCL).
AESL emerged as the winning bidder of this scheme under the tariff-based competitive bidding (TBCB) route. The acquisition of South Kalamb Power Transmission Ltd, incorporated as a wholly-owned subsidiary of PFCCL, was completed on March 30, 2026.
The underlying transmission scheme is formally referred to as “Network expansion scheme for drawal of power at South Kalamb substation: Part A” and is expected to cost Rs.901 crore as estimated by National Committee on Transmission (NCT).
Three in race
AESL won the project quoting the winning tariff of Rs.1201.36 million, getting the better of two contenders – Power Grid Corporation of India Ltd (PGCIL) and Resonia Ltd. (More details in this tndindia.com story dated February 27, 2026)
Project elements
The scheme involves creating new bus sections — two of 765kV and two of 400kV – at the upcoming South Kalamb substation. Three interconnecting transformers (765/400kV, 1500 MVA) will also be put up at the said substation. Besides, three existing 400kV double-circuit lines, including Nagothane-Padghe, Pune-Navi Mumbai and Pune-Vikhroli, will be looped in and out at the South Kalamb substation. The Maharashtra-centric project is scheduled for completion in 24 months from SPV transfer, which is by March 30, 2028.
Interestingly, the South Kalamb substation is being developed through a separate interstate scheme housed under “WRNES Talegaon Power Transmission Ltd,” also a TBCB subsidiary of AESL, acquired on May 30, 2025.
Part B & Part C
Apart from “Part A” of the overall scheme that AESL has newly won, there are two other smaller components — Part B and Part C — that will be developed under the regulated tariff mechanism (RTM) by AESL and PGCIL, respectively.
Third acquisition
For Adani Energy Solutions Ltd, the South Kalamb project is the third formal acquisition of an ISTS scheme under the TBCB framework during FY26 so far (up to March 30, 2026). Earlier in the year, AESL had acquired WRNES Talegaon Power Transmission Ltd in May 2025 followed by the mega KPS III HVDC Transmission Ltd in December 2025.
Though AESL has acquired only three schemes in FY26 so far, the Adani Group entity is likely to emerge as the most successful developer in the ISTS-TBCB space in FY26, in terms of tariff-based share. The KPS III HVDC scheme involves tariff (annual transmission charges) of a massive Rs.2,400 crore that is expected to provide AESL an insurmountable lead over its competitors. [It may be noted that tndindia.com’s formal report on the ISTS-TBCB market in FY26 is proposed to be released by mid-April 2026.]
Also read: Adani Energy formally acquires green hydrogen-related transmission scheme in Gujarat
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