Adani Energy and Sterlite secure ISTS projects from RECPDCL

REC Power Development & Consultancy Ltd (RECPDCL), the bid process coordinator, has transferred two interstate transmission system (ISTS) project special purpose vehicles (SPVs) to Adani Energy Solutions Ltd (AESL) and Sterlite Power, under the tariff-based competitive bidding (TBCB) mechanism.

The first project SPV, Khavda IV A Power Transmission Ltd, has been awarded to Adani Energy Solutions Ltd. This project is part of the transmission system for Khavda Phase IV (7 GW) – Part A, located in Gujarat. The estimated project cost is Rs. 40.91 billion, with a gestation period of 24 months. The project involves the construction of 310.31 km of 765kV transmission line and the development of 765kV and 400kV bus sections at the Khavda Pooling Station-3 (KPS3) GIS substation, including associated works. Power Grid Corporation of India Ltd (PGCIL) was also a contender for this project.

The second project SPV, Khavda IV C Power Transmission Ltd, has been awarded to Sterlite Power. This project is part of the transmission system for Khavda Phase IV (7 GW) – Part C, spanning Gujarat and Maharashtra. The estimated project cost is Rs. 53.40 billion, also with a gestation period of 24 months. It includes the development of a 765/400kV, 4×1500 MVA and 400/220kV, 2×500 MVA Boisar-II GIS substation, along with the construction of 257.29 km of 765kV transmission line and 20.725 km of 400kV line. Both PGCIL and AESL were contenders for this project.

Both projects will be developed on a build, own, operate & transfer (BOOT) basis, with a concession period of 35 years. 

So far, 12 ISTS-TBCB schemes have been awarded to successful bidders in FY25, with PGCIL securing the highest number of wins, totalling six.