PGCIL clinches Mandsaur interstate scheme, its fifth ISTS-TBCB win this fiscal
- September 20, 2025
Power Grid Corporation of India Ltd (PGCIL) has emerged as the successful bidder under the tariff-based competitive bidding (TBCB) modality for an interstate transmission system (ISTS) scheme housed under project SPV “Mandsaur I RE Transmission Ltd.”
In a stock exchange filing, PGCIL said that it received the letter of intent for developing this scheme, official termed as “Augmentation of transformation capacity and implementation of line bays at Mandsaur substation for RE interconnection,” on September 19, 2025.
As reported by tndindia.com on September 17, 2025, bid process coordinator PFC Consulting Ltd had qualified three bidders for opening of initial price bids for the Mandsaur scheme. The other two contenders were KCC Buildcon Pvt Ltd and Techno Electric & Engineering Company Ltd. PGCIL’s winning tariff and details on the e-reverse auction (e-RA) are not yet available.
Estimated to cost Rs.319 crore (as per National Committee on Transmission, NCT) and with a completion timeframe of 18 months, this ISTS scheme involves augmentation works at the under-construction Mandsaur pooling substation in Madhya Pradesh.
Incidentally, the Mandsaur PS is being developed by another TBCB subsidiary of PGCIL, “Powergrid Mandsaur Transmission Ltd.” Further, the completion of the newly-awarded Mandsaur scheme is linked to that of the 765kV double-circuit Mandsaur-Khandwa transmission line envisaged under yet another ISTS-TBCB scheme being developed by “Powergrid Sirohi Khandwa Transmission Ltd,” a TBCB subsidiary of PGCIL.
Fifth ISTS-TBCB win for PGCIL
The newly-won Mandsaur scheme represents the fifth ISTS-TBCB win for PGCIL during FY26 so far (up to September 19, 2025). Of these five schemes, only one scheme – Powergrid Mahan Rewa Transmission Ltd (formerly, MEL Power Transmission Ltd) – has been formally acquired by PGCIL. In the case of the remaining four, the letter of intent has been received from the respective bid process coordinator, but the formal SPV transfer is awaited. The project SPVs of these four schemes are: Robertsganj Power Transmission Ltd, Davanagere Power Transmission Ltd, Vindhyachal Varanasi Transmission Ltd, and Mandsaur I RE Transmission Ltd. The combined investment envisaged in these five ISTS-TBCB schemes is around Rs.7,250 crore.
Imminent awards
It is likely that winners of at least two ISTS-TBCB schemes will be announced soon. These schemes are housed under “KPS III HVDC Transmission Ltd” and “Ananthapuram II Power Transmission Ltd.” Shortlisting of bidders for opening of initial price bids has already taken place. Four bidders are in contention for the KPS III HVDC scheme while the Ananthapuram II scheme has six aspirants.
Featured photograph (source: MPPTCL) is for representation only