TBCB projects

  • India | News | T&D

    REC transfers two Maharashtra transmission SPVs

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    REC Power Development and Consultancy Limited (RECPDCL) has transferred its entire shareholding in two project-specific special purpose vehicles (SPVs), Velgaon Power Transmission Limited and Jejuri Hinjewadi Power Transmission Limited, to successful bidders selected through a tariff-based competitive bidding (TBCB) process. The divestments were completed through separate Share Purchase Agreements signed on 9 January 2026. Jejuri Hinjewadi Power Transmission Limited was acquired by The Tata Power Company Limited, while Velgaon Power Transmission Limited was acquired by…

  • India | News

    GE Vernova wins PGCIL contract for EHV transformers and reactors

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    GE Vernova T&D India Limited has secured a major contract from Power Grid Corporation of India Limited (PGCIL). Announced on May 1, 2025, the contract covers the supply of over 70 extra high voltage (EHV) transformers and shunt reactors. The scope includes supply, erection, testing, and commissioning of equipment across various transmission projects. These projects will be implemented under the tariff based competitive bidding (TBCB) route. Manufacturing will take place at GE Vernova’s power transformer…

  • India | News

    Power Grid acquires Khavda V-A transmission project

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    Power Grid Corporation of India Ltd (PGCIL) acquired “Khavda V-A Power Transmission Ltd” from REC Power Development & Consultancy Ltd (RECPDCL) on November 19, 2024. This project, valued at Rs 250 billion, is the largest interstate transmission system (ISTS) scheme awarded under the tariff-based competitive bidding (TBCB) mechanism. The project is India’s first TBCB-awarded transmission scheme employing HVDC technology, a departure from the earlier regulated tariff mechanism (RTM) for most HVDC projects. PGCIL will earn…