Shivalaya Construction becomes latest debutant in interstate transmission space
- October 18, 2025
Shivalaya Construction Ltd has become the latest entrant in the interstate power transmission development space, following the formal acquisition of “Ananthapuram II Power Transmission Ltd.”
Shivalaya Construction Ltd formally acquired the said project SPV from bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) on October 17, 2025.
As exclusively reported by tndindia.com on October 7, 2025, New Delhi-headquartered Shivalaya had received the letter of intent from RECPDCL on September 23, 2025, after emerging as the successful bidder under the tariff-based competitive bidding (TBCB) framework.
The project
The Ananthapuram-II scheme has an estimated outlay of Rs.3,300 crore and a phase-wise completion schedule of 24-30 months. It is formally termed as “Transmission system for integration of Ananthapuram-II REZ – Phase II (3 GW).”
Taking shape in Andhra Pradesh, the scheme mainly entails setting up the new 765/400kV, 3×1500 MVA Chikkanayakanahalli (CN’Halli) substation, and augmentation of the Ananthapuram-II Pooling Station at both 765/400kV and 400/220kV levels. [More project details can be found in the October 7, 2025 tndindia.com story mentioned above.]
Aggressive bidding
From newly-released official data, it appears that the Ananthapuram-II scheme saw aggressive bidding. Based on technical qualifications, five bidders, including Shivalaya Construction, had qualified for opening of initial price bids. The other four were: Power Grid Corporation of India Ltd (PGCIL), Resonia Ltd, Adani Energy Solutions Ltd (AESL) and IndiGrid (through its majority-owned subsidiary Enerica 1 Infra).
At the end of the e-reverse auction (e-RA), Shivalaya clinched the project with a quote of Rs.3,190 million per year. Aggressive bidding is evident from the fact that Shivalaya’s winning quote was as much as 22 per cent lower (better) than the L2 bid. [Which of the three other bidders that made it to the e-RE stage is not yet known. It can only be deduced that one of the four other contenders listed above did not make it to the e-RA stage.]
EPC contractors to power transmission developers
It is observed that over the past three years or so, EPC and annuity contractors in the infrastructure space, principally roads & highways, have been diversifying into the power transmission space as developers. In recent history, the first such instance was that of G R Infraprojects Ltd that won its first ISTS-TBCB scheme in May 2022 and went on to win four more schemes. In October 2022, Megha Engineering & Infrastructures Ltd landed its first interstate scheme. Entities like Dineshchandra R. Agrawal Infracon, H.G. Infra Engineering and now Shivalaya Construction, are the recent entrants.
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