Ashoka Buildcon acquires Sakoli intrastate-TBCB scheme in Maharashtra, enters development space
- September 25, 2026
Ashoka Buildcon has formally acquired the project SPV associated with the Sakoli intrastate transmission system (InSTS) scheme in Maharashtra, which it won under the tariff-based competitive bidding (TBCB) route.
The project SPV “Sakoli Power Transmission Ltd” was acquired from bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) on September 23, 2026.
This development, according to an assessment by tndindia.com, marks Ashoka Buildcon’s entry as a developer in the power transmission space, an area where it has longstanding experience as EPC contractor.
Ashoka Buildcon Ltd had emerged as the successful bidder through the TBCB process for development of the intrastate scheme termed as “Establishment of 400/220/132kV AIS Sakoli (Dist. Bhandara)” in Maharashtra.
The transmission project broadly envisages establishment of AIS Sakoli with 2×500 MVA, 400/220kV ICTs and 2×15 MVA, 400/132kV ICTs, 220kV double-circuit line from Sakoli to Bhandara, 132kV double-circuit line from Sakoli to Deori and Moragaon Arjuni, along with other associated works. The project implementation schedule is 24 months.
According to information available with tndindia.com, Ashoka Buildcon clinched the Sakoli scheme with a winning tariff of Rs.1265.37 million per year, getting the better of seven others that had qualified for opening of initial price bids. The names of those that moved to the e-reverse auction (e-RA) stage alongside the winning bidder are not yet available.
Before winning the Sakoli scheme under discussion, Nashik-based Ashok Buildcon was amongst the qualified bidders for at least three intrastate-TBCB schemes, all in Maharashtra.
As of June 30, 2026, Ashoka Buildcon had an outstanding order book of Rs.15,251 crore, of which power T&D EPC accounted for around 33 per cent. The majority came from road projects – both EPC and annuity.
Ten SPVs transferred
For Maharashtra, the Sakoli scheme becomes the tenth intrastate-TBCB scheme to be formally transferred to winning developers, in just over eight months since the first scheme was transferred on January 9, 2026. Here is the list in order of chronology:
- Velgaon Power Transmission Ltd: Ceigall India
- Jejuri Hinjewadi Power Transmission Ltd: Tata Power
- Saswad Transmission Ltd: MSETCL
- Umred Power Transmission Ltd: MSETCL
- NES Dharashiv Transmission Ltd: Montecarlo
- NES Pune East New Transmission Ltd: PGCIL
- Wagdari Transmission Ltd: KCC Buildcon
- Jalna Power Transmission Ltd: MSETCL
- Musalgaon Power Transmission Ltd: MSETCL
- Sakoli Power Transmission Ltd: Ashoka Buildcon
(NES Pune East New Transmission Ltd has since been renamed to Powergrid West Maharashtra Transmission Ltd.)
Apart from the aforementioned ten schemes, two – Latur REZ (LoI issued to Montecarlo) and Dharashiv (Dilip Buildcon named L1 bidder) – are expected to transferred soon.
Featured photograph shows transfer of “Sakoli Power Transmission Ltd” from RECPDCL to Ashoka Buildcon Ltd, on September 23, 2026.