Tata Power, one of India’s largest integrated power companies, has won the bid to acquire Bikaner-III Neemrana-II Transmission Limited, a project Special Purpose Vehicle (SPV) set up by PFC Consulting Limited, a subsidiary of Power Finance Corporation. The company received the Letter of Intent (LoI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by the Union Ministry of Power (MoP).
The transmission project, which will be developed on a Build-Own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project entails the establishment of around 340 kms of transmission corridor from Bikaner-III pooling station to Neemrana II substation.
Tata Power will maintain the transmission project for a period of 35 years. The project is estimated to cost Rs. 1,544 crore – and is expected to be commissioned within 24 months from the date of transfer of the project SPV.
Upon successful commissioning, the project will become a vital link in the roadmap unveiled by the Ministry of Power in 2022 for integrating over 500 GW of renewable energy capacity into the national grid by 2030.
Tata Power is a leading integrated power company and a part of Tata Group, India’s largest multi-national business conglomerate. The company has a diversified portfolio of 14407 MW, spanning across the entire power value chain.
