Power Grid Corporation of India Ltd (PGCIL) has been declared successful bidder for two interstate transmission system (ISTS) schemes, under the tariff-based competitive bidding (TBCB) route. This has taken PGCIL’s cumulative wins in this fiscal year to five.
In a stock exchange communication, PGCIL said that on May 9, 2024, it received the letter of intent for developing the following two schemes under the build, own, operate & transfer (BOOT) model:
- Transmission System for evacuation of power from Rajasthan REZ Phase-IV (Part-2: 5.5 GW) (Jaisalmer/ Barmer Complex): Part B
- Transmission System for evacuation of power from Rajasthan REZ Phase-IV (Part-2: 5.5 GW) (Jaisalmer/ Barmer Complex): Part D
According to information available with T&D India but not contained in the PGCIL communication, PFC Consulting Ltd (PFCCL) is the bid process coordinator for these schemes and the project SPVs for the two schemes are, respectively:
- Sirohi Transmission Ltd
- Beawar-Mandsaur Transmission Ltd
These project SPVs are currently wholly-owned subsidiaries of PFCCL and will be transferred to PGCIL, in due course.
As reported by T&D India on May 6, 2024, PGCIL was in the final race with two other contenders – Adani Energy Solutions Ltd and Sterlite Power – for Sirohi Transmission. For Beawar-Mandsaur, PGCIL was contending with Sterlite Power and Tata Power.
Project Scope
The two schemes – Sirohi and Beawar-Mandsaur – are expected to see combined investment to the tune of Rs.5,500 crore. While the Sirohi project mainly involves setting up of the 765/400kV Sirohi substation in Rajasthan along with double-circuit lines of 765kV and 400kV rating, the Beawar-Mandsaur entails a new 765kV corridor along with bay extension works at several existing substations in Rajasthan and Madhya Pradesh.
PGCIL wins four
The overall project “Transmission System for evacuation of power from Rajasthan REZ Phase-IV (Part-2: 5.5 GW) (Jaisalmer/ Barmer Complex)” has several components that are being developed as separate schemes under a combination of TBCB and RTM modalities.
Seven components denoted as Part A, Part B, Part C, Part D, Part G, Part F (F1 & F2) and Part H1 will be developed under the TBCB route. The total envisaged investment in these seven components is around Rs.20,000 crore. PGCIL has so far won four of these seven components. In addition to the two wins discussed in this story, PGCIL, on April 16, 2024, was handed over the letters of intent for Part C and Part E, being developed under project SPVs – Rajasthan IV C Power Transmission Ltd and Rajasthan IV E Power Transmission Ltd.
Here is a summary status:
FY25 so far
In FY25 so far (up to May 9, 2024), a total of seven ISTS-TBCB schemes have been awarded, according to estimates made by T&D India. Of this PGCIL has been most successful with five. India Grid Trust (IndiGrid) and Techo Electric Engineering Co Ltd have clinched one each. The formal transfer of SPV has however taken place in just one scheme – Kallam Transco Ltd – transferred to IndiGrid.
Also read: PGCIL Set To Become Single-Largest Shareholder In NHPTL
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