The first four months of FY24 saw hectic activity in the interstate TBCB power transmission space with as many as 11 new projects getting awarded.
According to a special study by T&D India, based on official statistics released by Central Electricity Authority (CEA), a total of 11 new interstate transmission system (ISTS) schemes were awarded in the period April 1, 2023 to July 31, 2023, under the tariff-based competitive bidding (TBCB) modality. In the same period, one such scheme was commissioned.
Power Grid Corporation of India Ltd (PGCIL) recorded perhaps its most successful phase winning nine of the 11 projects awarded. The remaining two were clinched by Adani Transmission Ltd.
The project SPVs housing the nine projects won by PGCIL are:
- Khavda II-B Transmission Ltd
- Khavda II-C Transmission Ltd
- Khavda RE Transmission Ltd
- KPS2 Transmission Ltd
- KPS3 Transmission Ltd
- ERWR Power Transmission Ltd
- Raipur Pool Dhamtari Transmission Ltd
- Dharamjaigarh Transmission Ltd
- Bhadla Sikar Transmission Ltd
It may be noted that the above project SPVs were so named at the time of their incorporation by the respective bid process coordinators. PGCIL, as seen in the past, is known to subsequently rename a project SPV upon its acquisition, often by prefixing it with “Powergrid”.
The total investment envisaged under these nine schemes is to the tune of Rs.5,800 crore. Seven of the nine projects have an estimated outlay of less than Rs.400 crore, each. In fact, three projects had an envisaged outlay of less than Rs.100 crore, which means that they were cleared directly by Central Transmission Utility of India Ltd (CTUIL), without the intervention of the National Committee on Transmission (NCT) or the Union power ministry. The large projects in the list are Khavda II-C Transmission Ltd (outlay: Rs.2,810 crore) and Bhadla Sikar Transmission Ltd (outlay: Rs.1,644 crore)
The two schemes that went Adani Transmission’s way were Khavda II-A Transmission Ltd (estimated investment: Rs.1,270 crore) and WRSR Transmission Ltd (Rs.2,109 crore).
Projects commissioned
In the first four months of FY24, the lone commissioning of an ISTS TBCB scheme was that housed under “Powergrid Bikaner Transmission System Ltd,” a wholly-owned subsidiary of PGCIL. This scheme, costing around Rs.1,341 crore and commissioned in July 2023, involved, among other things, establishment of the 400/220kV Bikaner-II substation and two 400kV double-circuit lines – Bikaner-II to Khetri, and Khetri to Bhiwadi. The scheme is part of the overall infrastructure aiming to evacuate 20 GW of solar potential from Rajasthan.
Cumulative status
As of July 31, 2023, there were 34 interstate TBCB transmission schemes under active physical construction. PGCIL led the pack of developers with 16 schemes, followed by Sterlite Power with six, and Adani Transmission with five. The remaining seven projects were thinly distributed amongst five developers with ReNew Transmission Ventures most successful with three. The remaining four were equally divided between Resurgent Power Ventures, India Grid Trust, GR Infraprojects and Megha Engineering & Infrastructures.
Also read: Sterlite Power Acquires Project SPV For TBCB Project In Rajasthan
Editor’s Note: This story is limited to interstate transmission projects awarded under the TBCB route. Specifically, it does not cover intrastate projects (under the TBCB or any other route) or interstate projects bid under the RTM modality.
