Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has shortlisted seven bidders for opening of initial price bids for development of the Eastern Region Expansion Scheme-47, under the TBCB route.
The shortlisted bidders are:
- Power Grid Corporation of India Ltd (PGCIL)
- Adani Energy Solutions Ltd (AESL)
- Resonia Ltd
- Dineschandra R. Agrawal Infracon Pvt Ltd
- Dilip Buildcon Ltd
- PNC Infratech Ltd
- Shivalaya Construction Ltd
Based on initial price bids, AESL is the L1 bidder while Dilip Buildcon holds L2 position. A maximum of four of these shortlisted bidders are expected to move the e-reverse auction (e-RA) stage where the final price discovery will take place.
Of the seven shortlisted bidders, all, with the exception of PNC Infratech Ltd, have acquired at least one interstate or intrastate scheme under the tariff-based competitive bidding (TBCB) mechanism so far.
Agra-headquartered PNC Infratech, an EPC player in the roads, highways, water and industrial development space, also has a portfolio of highway projects under the BOT/annuity mode. PNC is a relatively new entrant in the ISTS-TBCB bidding space and has so far been shortlisted for at least five such schemes so far, as per information available with tndindia.com
Project SPV
The ERES-47 project is formally termed as “ERES-47; Nawada-Durgapur-Jeerat (New) 765kV Corridor,” and is currently housed under “Nawada Durgapur Power Transmission Ltd,” a wholly-owned subsidiary of RECPDCL.
Strategic importance
The ERES-47 is a strategically important project in that it seeks to develop a new 765kV corridor on the eastern region (ER) grid. In conjunction with existing lines, ERES-47 will eventually form a 765kV intraregional ring within the ER grid. The project is estimated to cost around Rs.5,200 crore and has a scheduled completion date of March 31, 2029.
More project details can be found in this tndindia.com story dated March 18, 2026
Broad status of ISTS-TBCB schemes in FY27
Based on information available with tndindia.com, the broad status of ISTS-TBCB schemes in FY27 so far (up to September 13, 2026) is as follows:
- Project SPV transferred: 13 (PGCIL:6; Private sector: 7)
- LoI issued but project SPV transfer pending: 6 (PGCIL: 3, Private sector: 3)
- L1 declared but LoI issuance pending: 1
- Bidders shortlisted but L1 not declared: 1
- Schemes under bidding: 8
- Schemes expected to come up for bidding soon: 6
The winners of the seven ISTS-TBCB schemes that been formally transferred to private developers in FY27 so far include: Adani Energy Solutions Ltd, Resonia, Dineshchandra R. Agrawal Infracon Pvt Ltd, HG Infra Engineering, Apraava Energy and EnerGrid.
Featured photograph (source: Adani Energy Solutions Ltd) is for representation only