The TBCB-based power transmission development space saw five new projects awarded and one completed, during the first quarter (April to June) of FY22. Power Grid Corporation of India Ltd (PGCIL) clearly dominated the proceedings.
A special study by T&D India, based on statistics released by Central Electricity Authority (CEA), indicates that during the first quarter (April 1 to June 30) of FY22, a total of five new interstate/interregional power transmission projects were awarded under the tariff-based competitive bidding (TBCB) route. During the same period, one such project was completed.
It is interesting to note PGCIL is the project developer for all the five projects awarded, and the one completed.
All the five projects awarded related to evacuation schemes associated with upcoming solar energy zones in Rajasthan. The overall scheme is termed as “Transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II”. It has several components, denoted as Part A, Part B, etc. Each part is to be developed by a project SPV, under the TBCB mode.
The five projects awarded in Q1 of FY22, and won by PGCIL, are:
- Ramgarh New Transmission Ltd [Phase-II (Part A)]
- Fatehgarh Bhadla Transco Ltd [Phase-II (Part B)
- Sikar New Transmission Ltd [Phase-II (Part C)]
- Sikar-II Aligarh Transmission Ltd [Phase-II (Part D)]
- Bikaner-II Bhiwadi Transco Ltd [Phase-II (Part F)]
Lone completion
The only TBCB power transmission project to get completed during Q1 of FY22 was a 765kV scheme in Rajasthan, developed by Ajmer Phagi Transmission Ltd, a wholly-owned subsidiary of PGCIL.
Commissioned on May 6, 2021, the project entailed the establishment of a 765kV double-circuit line from Ajmer to Phagi, along with associated transmission infrastructure. (Read full story)
Overall Status
As of June 30, 2021, there were 59 interstate/interregional power projects under the TBCB route. Out of these, 24 were under construction and 31 were commissioned. The remaining four projects were either officially terminated or stuck in litigation.
Of the 24 projects under construction, PGCIL accounted for as many as 11. Adani Transmission with seven was followed by Sterlite Power with five. The remaining one project is being developed by Essel Infraprojects.
As far as completed projects go, Sterlite Power accounted for 10 followed by PGCIL with nine. Adani Transmission had five projects completed, as of June 30, 2021, with the remaining seven distributed among other developers.
It needs to be mentioned that some of these completed projects have been sold to infrastructure investment trusts (InvITs) like IndiGrid and Power Grid InvIT. PGCIL has monetized over Rs.2,700 crore by selling five TBCB projects to PGInvIT (Read more).
Upcoming TBCB schemes
It may be recalled that a recent study by T&D India has already suggested that six power transmission schemes under the TBCB scheme are likely to come up for award in the medium term. (Read full story)
