Montecarlo Energy Ltd has recently received the letter of intent for the Latur intrastate-TBCB scheme in Maharashtra, making it the Gujarat-based company’s second TBCB win.
Montecarlo Energy Ltd, a subsidiary of Ahmedabad-headquartered Montecarlo Ltd, received the LoI from bid process coordinator PFC Consulting Ltd, after it emerged winner under the tariff-based competitive bidding (TBCB) framework.
As reported by tndindia.com on June 18, 2026, Montecarlo Energy was among the seven bidders that had qualified for opening of initial price bids. The other bidders included the top three players – Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL) and Resonia – apart from state transco MSETCL, KCC Buildcon and Lumino Industries.
Incorporated under “Latur REZ Transmission Ltd,” currently a wholly-owned subsidiary of PFCCL, the Latur TBCB scheme involves putting up the new 3×500 MVA, 400/220kV and 3×315 MVA, 400/132 kV air-insulated substation (AIS) at Latur.
The basic objective of the Latur scheme is to enable evacuation of 1 – 2 GW of RE power from the Dharashiv (previously Osmanabad) and Latur districts, and relieve loading on the existing network that has hardly any margin left.
Second win for Montecarlo
The Latur intrastate scheme represents the second InSTS-TBCB win for Montecarlo, following the acquisition of “NES Dharashiv Transmission Ltd” on March 12, 2026. (Read tndindia.com story dated March 13, 2026)
More schemes up for award
According to information available with tndindia.com, at least five more intrastate-TBCB projects are expected to be formally transferred to winning developers, in the coming weeks. Bidders have been shortlisted in each of the five schemes – Musalgaon, Sakoli, Raigad, Balsane and Pune-West.
As of August 18, 2026, a total of eight intrastate-TBCB schemes in Maharashtra were transferred to successful developers that included a diverse community comprising state transco MSETCL, Central PSU PGCIL, and private entities including Tata Power, Montecarlo Energy, Ceigall India and KCC Buildcon.
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