RECPDCL hands over project SPV “Davanagere Power Transmission Ltd” to PGCIL
- September 24, 2025
Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) completed the formal handover of project SPV “Davanagere Power Transmission Ltd,” housing an interstate transmission system (ISTS) scheme, to Power Grid Corporation of India Ltd (PGCIL), on September 24, 2025.
PGCIL had emerged as successful bidder for this ISTS scheme, under the tariff-based competitive bidding (TBCB) modality.
In a release, RECPDCL said that the project SPV “Davanagere Power Transmission Ltd” was handed over by T.S.C. Bosh, CEO, RECPDCL to Arup Kumar Samanta, Senior DGM, Company Secretariat, PGCIL, in the presence of Senior Officials of RECPDCL, PGCIL and and Central Transmission Utility of India Ltd.
With an envisaged completion timeframe of 24 months, this scheme, expected to cost Rs.366.26 crore, covers augmentation of transformation capacity at Davanagere Pooling Station (PS) in Karnataka by 1×1500 MVA, 765/400kV and 4×500 MVA, 400/220kV interconnecting transformers, along with 220kV line bays.
As reported by tndindia.com on August 20, 2025, PGCIL was in the race for this project alongside three bidders – Techno Electrical & Engineering Company Ltd, HG Infra Engineering Ltd and debutant bidder Ramalingam Construction Company Pvt Ltd. PGCIL was issued the letter of intent for this scheme on August 27, 2025.
RECPDCL had incorporated “Davanagere Power Transmission Ltd,” on June 25, 2025, as its wholly-owned subsidiary to undertake the bidding process of an ISTS-TBCB scheme termed as “Transmission system strengthening at Davanagere for integration of RE generation.”
It is learnt that the winning tariff (transmission charges) quoted by PGCIL was Rs.423.11 million per year.
Second acquisition for PGCIL
For PGCIL, this represents the second formal SPV acquisition of an ISTS-TBCB scheme this fiscal year, after “MEL Power Transmission Ltd” on June 4, 2025. This project SPV has since been renamed to “Powergrid Mahan Rewa Transmission Ltd.”
Three more acquisitions to follow
As of September 24, 2025, PGCIL was issued the letter of intent for three more ISTS-TBCB schemes, the formal SPV transfer of which is expected in the coming weeks. The project SPVs of these schemes are: Mandsaur I RE Transmission Ltd; Robertsganj Power Transmission Ltd; and, Vindhyachal Varanasi Transmission Ltd.
Cumulative status
In the current fiscal year FY26 so far (up to September 24, 2025), as per tndindia.com, a total of six ISTS-TBCB schemes have been formally transferred to five developers, with PGCIL associated with two. Four schemes have been awarded, one apiece, to Adani Energy Solutions Ltd, Resonia Ltd, Dineshchandra R. Agrawal Infracon Pvt Ltd and HG Infra Engineering Ltd.
Also read: RECPDCL issues letters of intent for two ISTS-TBCB schemes, PGCIL and GRIL are selected bidders