Maharashtra State Electricity Transmission Company Ltd (MSETCL) has debuted in the TBCB space by formally acquiring its first schemes – Umred and Saswad.
Bid process coordinator REC Power Development & Consultancy Ltd, on February 26, 2026, formally transferred “Umred Power Transmission Ltd” to MSETCL, the winning under the tariff-based competitive bidding (TBCB) mechanism.
The Umred scheme entails development of the 400/220/132kV Umred (AIS) substation in Nagpur district, along with associated transmission infrastructure.
As reported by tnndia.com on November 20, 2025, MSETCL was among the seven developers shortlisted for opening of initial price bids. Four of these made it to the e-reverse auction stage. MSETCL clinched the project with an aggressive tariff bid of Rs.990.00 million (Rs.99 crore). This bid, it is reliably learnt, was nearly 30 per cent lower than the next-best L2 bid. [Names of L2, L3 and L4 bidders are not yet available.]
It is further learnt that MSETCL has very recently also acquired “Saswad Power Transmission Ltd” from bid process coordinator PFC Consulting Ltd. For Saswad, MSETCL was in a two-way contest with a private developer Resonia Ltd.
For MSETCL, these two schemes represent the first formal wins under the tariff-based competitive bidding (TBCB) framework.
In fact, MSETCL, according to an assessment by tndindia.com, MSETCL becomes the first state transmission company ever to win a transmission project under the TBCB framework.
Overall progress
Maharashtra has progressed well in its endeavour to build intrastate transmission infrastructure under the TBCB philosophy.
According to tndindia.com, winners have been declared for six intrastate-TBCB schemes in Maharashtra, out of which formal transfer of SPV has taken place in the case of four. In another two schemes, winners are likely to be announced soon.
Here is a summary:
- Velgaon Power Transmission Ltd: SPV transferred to Ceigall India Ltd
- Umred Power Transmission Ltd: SPV transferred to MSETCL
- Saswad Transmission Ltd: SPV transferred to MSETCL
- Jejuri Hinjewadi Power Transmission Ltd: SPV transferred to Tata Power
- NES Dharashiv Transmission Ltd: Montecarlo named L1 bidder
- NES Pune East New Transmission Ltd: PGCIL named L1 bidder
- Wagdari Transmission Ltd: Winner to be announced soon
- Musalgaon Power Transmission Ltd: Winner to be announced soon
MSETCL is in the race for both the Wagdari and Musalgaon schemes. For Wagdari, six bidders had qualified for opening for initial price bids, and according to industry sources, the scheme is likely to have been won by a private developer. For Musalgaon, where formal results are awaited, MSETCL is in the fray with just one more aspirant — Montecarlo Ltd.