RECPDCL issues letters of intent for two ISTS-TBCB schemes, PGCIL and GRIL are selected bidders
- August 28, 2025
Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has awarded letters of intent to winning developers selected under the TBCB framework, for two interstate transmission system (ISTS) schemes.
The selected developers are Power Grid Corporation of India Ltd (PGCIL) and G R Infraprojects Ltd (GRIL). The LoIs were awarded on August 27, 2025, as per stock exchange notifications of the respective developers.
As already reported by T&D India on August 20, 2025, PGCIL was amongst the four bidders qualified for opening of initial price bids for the ISTS-TBCB termed as “Transmission system strengthening at Davanagere for integration of RE generation” and housed under project SPV “Davanagere Power Transmission Ltd.”
In the case of G R Infraprojects Ltd, the ISTS-TBCB scheme won is officially known 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.” It has been incorporated under project SPV “Rajgarh Neemuch Transmission Ltd.” As reported by T&D India on August 14, 2025, this scheme attracted seven bidders in the initial rounds.
In both the cases, the bidders that made it in the final (e-reverse auction) round are not yet known. RECPDCL is expected to soon formally transfer the project SPVs to the winning bidders.
ISTS-TBCB in FY26
According to estimates made by T&D India, during the current fiscal year so far (April 1, 2025 to August 27, 2025), a total of five ISTS-TBCB schemes have been formally transferred to winning developers. These are:
- WRNES Talegaon Power Transmission Ltd: Adani Energy Solutions Ltd (May 30, 2025)
- MEL Power Transmission Ltd: PGCIL (June 4, 2025)
- Raghanesda RE Transmission Ltd: Dineshchandra R. Agrawal Infracon (July 23, 2025)
- NER Expansion Transmission Ltd: Resonia Ltd (July 23, 2025)
- Angul Sundargarh Transmission Ltd: HGIEL (July 28, 2025)
The two schemes discussed in this story will be formally transferred to PGCIL and GRIL, respectively, in due course. This apart, Reliance Industries Ltd, in April 2025, emerged L1 for an ISTS-TBCB scheme incorporated under “Kandla GHA Transmission Ltd.” However, there is no official confirmation of the formal transfer of project SPV.
Also Read:“Equal distribution” seen in award of ISTS-TBCB schemes this fiscal (July 25, 2025)
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