More aspirants are seen emerging in the interstate transmission system (ISTS) development space, under the tariff-based competitive bidding (TBCB) mechanism.
For an ISTS-TBCB scheme housed under “Rajgarh Neemuch Transmission Ltd,” bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) recently qualified eight entities for opening of initial price bids, based on their technical bids.
These eight shortlisted bidders include three entities that are making their presence felt in the ISTS-TBCB space for the first time. These new aspirants are: Enerica Infra 1 Pvt Ltd, Dilip Buildcon Ltd and PNC Infratech Ltd.
Besides, one relatively new entrant Ceigall India Pvt Ltd had also technically qualified but its bid was declared “non-responsive” for not having complied with some formalities.
The remaining five shortlisted bidders for Rajgarh Neemuch Transmission include the big three – Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL) and Resonia Ltd (formerly Sterlite Grid 32 Ltd) – as well as relatively smaller developers like G R Infraprojects Ltd (GRIL) and HG Infra Engineering Ltd (HGIEL).
GRIL currently has a portfolio of four ISTS-TBCB schemes, including one commissioned. HGIEL is the latest debutant in the ISTS-TBCB space having formally acquired “Angul Sundargarh Transmission Ltd” less than a fortnight ago.
New players
Bhopal-headquartered Dilip Buildcon Ltd is an established player in the infrastructure space with a longstanding presence in roads & highways (both EPC and DBFOT), railways, metro rail, irrigation, tunneling, etc. The Rajgarh Neemuch project potentially opens up a new business vertical for the company.
PNC Infratech Ltd, founded in 1999, also is an infrastructure developer, currently engaged in areas like roads & highways (both EPC and DBFOT), water management and industrial area development. Recently, this Noida-headquartered company made its foray in the solar-BESS space by winning a project from NHPC, under tariff-based bidding.
Formed in April 2025, Enerica Infra 1 Pvt Ltd, is technically a newly-incorporated entity, but, as reliably learnt, it has been acquired by IndiGrid to the extent of 74 per cent equity shareholding. The remaining is held by EnerGrid, which is a new platform promoted by IndiGrid, British International Investment (BII) and the Norwegian Climate Investment Fund. This platform will focus on bidding and developing greenfield transmission and standalone battery energy storage system (BESS) projects in India. (Read T&D India’s story dated November 13, 2024)
Though it made an unsuccessful technical bid for the Rajgarh Neemuch scheme under discussion, Ceigall India Pvt Ltd was amongst the technically qualified entities for an intrastate-TBCB scheme in Maharashtra, housed under Valegaon Power Transmission Ltd.
Project background
“Rajgarh Neemuch Transmission Ltd” houses an ISTS scheme termed as “Transmission system for evacuation of power from RE projects in Rajgarh (1,500 MW) SEZ in Madhya Pradesh-Phase III & evacuation of power from RE projects in Neemuch (1,000 MW) SEZ in Madhya Pradesh-Phase II.”
With an estimated outlay of Rs.3,472 crore and an implementation period of 24 months, the scheme, taking shape in Madhya Pradesh, involves putting up around 850 ckm of 400kV lines and a new 400/220kV, 2×500 MVA substation at Handiya, along with associated infrastructure. (For more project details, please refer to T&D India’s story dated June 18, 2025)
Featured photograph (source: GRIL) is for representation only