Tata Power has been named L1 bidder in two transmission schemes being awarded under the tariff-based competitive bidding (TBCB) route.
According to a recent investor presentation, Tata Power has been named as L1 bidder in two TBCB-based transmission schemes – one interstate and one intrastate.
The interstate transmission system (ISTS) scheme in question is housed under project SPV “Bikaner III Neemrana II Transmission Ltd” and has bid process coordinator PFC Consulting Ltd.
The scheme is officially termed as “Transmission system from Rajasthan REZ Phase-IV (Part 1) (Bikaner Complex): Part C.”
As already reported by T&D India, Tata Power was in the final race for this project along with other contenders like Power Grid Corporation of India Ltd (PGCIL), Sterlite Power and Adani Energy Solutions Ltd.
The scheme is expected to cost Rs.1,544 crore and is expected to commission in 24 months from the date of transfer of project SPV to the successful bidder.
The important elements to be developed under this scheme include the 765kV Bikaner-III to Neemrana-II double-circuit line (344 ckm) and two 765kV line bays each at Bikaner-III PS and Neemrana-II PS.
While Tata Power has been declared L1 for this project (Part C), the company is also in the final race for “Part A” and “Part D” of the same project, the results of which are not yet known.
For Tata Power this would be the first interstate transmission system (ISTS) won by the company under actual bidding. Tata Power is today indirectly present in the transmission development space – both interstate and intrastate – through its joint venture Resurgent Power Ventures Pte Ltd. Over the past two years or so, Resurgent has acquired distressed transmission assets including South East UP Power Transmission Company Ltd (an intrastate scheme in Uttar Pradesh) and NRSS XXXVI Transmission Ltd (an interstate scheme acquired from Essel Infraprojects under a debt-restructuring exercise).
The intrastate scheme for which Tata Power has been named L1 is housed under project SPV “Jalpura Khurja Power Transmission Ltd” and has REC Power Development & Consultancy Ltd as the bid process coordinator.
The project, with an outlay of Rs.750 crore, will involve construction of a 400kV substation at Greater Noida and Jalpura in Uttar Pradesh, LILO of 400kV line at Greater Noida substation and construction of 400kV line from Jalpura substation to THDC India’s Khurja thermal power plant.
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The two L1 projects discussed above can potentially add 424 ckm of transmission lines to Tata Power’s current portfolio, besides augmenting the capital expenditure figure by Rs.2,294 crore. Currently, Tata Power has 4,383 ckm of transmission lines under operation. Another 906 ckm of lines are under construction, envisaging capital outlay of Rs.1,610 crore.