Five developers have been shortlisted for opening of initial price bids for an interstate-TBCB project housed under “Shongtong Power Transmission Ltd.” This is the second bidding round following the first that was annulled in September 2024.
The five bidders in the fray are Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL), Resonia Ltd, Dineshchandra R. Agarwal Infracon Pvt Ltd (DRAIPL) and an EnerGrid subsidiary Terralight Solar Energy Tinwari Pvt Ltd.
By current timelines, bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) expects to transfer the project SPV, currently its wholly-owned subsidiary, to the successful bidder by April 20, 2026.
The ISTS-TBCB schemes seeks to create evacuation infrastructure for two upcoming hydropower projects in Himachal Pradesh and is officially termed as “Transmission system for evacuation of power from Shongtong Karcham HEP (450 MW) and Tidong HEP (150 MW).”
As reported by tndindia.com on September 10, 2025, the scheme first came up for bidder selection in June 2023. The bidding process, after multiple extensions, was ultimately annulled in September 2024 as the scheme was not seen materializing by its stipulated date of July 2026. The delay was on account for non-completion of supporting transmission infrastructure by Himachal Pradesh Power Transmission Corporation Ltd (HPPTCL) with respect to the Shongtong Karcham HEP.
In March 2025, it was decided that an interim evacuation arrangement would be made and the scheme came up for re-bidding in September 2025.
In the previous round of bidding, PGCIL, AESL and Resonia were shortlisted for opening of price bids with PGCIL even getting the letter of intent (LoI) from RECPDCL.
Two new aspirants
As can be seen, two new aspirants have emerged on the scene in the fresh round of bidding. DRAIPL is currently developing two ISTS-TBCB schemes, housed under “Rajasthan IV 4B Power Transmission Ltd” and “Raghanesda RE Transmission Ltd.”
Terralight Solar Energy Tinwari Pvt Ltd (TSETPL) is a subsidiary of “Enerica 3 Infra Pvt Ltd,” in turn a subsidiary of “Enerica Regrid Infra Pvt Ltd” (EnerGrid).
EnerGrid, through its subsidiary “Enerica 1 Infra Pvt Ltd,” acquired the ISTS-TBCB scheme housed under “Morena 1 SEZ Transmission Ltd,” on February 3, 2026. Further, EnerGrid, through Terralight Solar Energy Tinwari Pvt Ltd, is also among the contenders for two ISTS-TBCB schemes — Kurnool IV REZ Power Transmission Ltd and NERGS III Siang Basin Transmission Ltd – as reported by tndindia.com on March 29, 2026.
EnerGrid is a new investment platform co-promoted by IndiGrid Infrastructure Trust (IndiGrid), British International Investment (BII) and the Norwegian Climate Investment Fund (Norfund). IndiGrid would henceforth be bidding for power transmission and BESS projects, under TBCB, through EnerGrid, and not by itself.
Featured photograph is for representation only