PGCIL formally acquires project SPV for “Rajasthan IV H1” ISTS scheme
Author: PPD Team Date: October 16, 2024
On October 15, 2024, Power Grid Corporation of India Ltd (PGCIL) was awarded the project SPV “Rajasthan IV H1 Power Transmission Ltd” by RECPDCL, the bid process coordinator, under the tariff-based competitive bidding (TBCB) route.
PGCIL will develop the transmission project on a BOOT (Build, Own, Operate & Transfer) basis.
The project involves establishing substations in Madhya Pradesh, including 765/400kV, 400/220kV, and 220/132kV substations with associated reactors. The project aims for completion within 24 months.
PGCIL secured the project with a winning bid of Rs 2,734.85 million in annual tariffs, beating competitors like Adani Energy Solutions Ltd, Tata Power, and Sterlite Power.
The estimated cost of the transmission system, which is part of the Rajasthan REZ Phase IV (5.5 GW) evacuation plan, is Rs 367.4 billion.
This marks PGCIL’s eighth ISTS-TBCB win in FY25.