Power Grid buys two transmission projects in Rajasthan to evacuate solar
09 Jun 2021
2 Min Read
CW Team
Power Grid Corporation of India (PGCIL) has acquired two transmission projects Fatehgarh Bhadla Transco Ltd and Sikar New Transmission Ltd under Phase 2, Part-B and C of the transmission strengthening program. Both of the projects have to evacuate 8.1 GW of power from solar energy zones in Rajasthan.
REC invited bids in December 2020 to develop transmission systems to evacuate power from solar energy zones in Rajasthan. And the invitation was extended to transmission service suppliers under Phase 2 for Part-A, B, and C of the transmission strengthening program to evacuate 8.1 GW of power from these zones.
REC Ltd鈥檚 wholly-owned subsidiary REC Power Distribution Company Ltd (RECPDCL) gave the two project Special purpose vehicles (SPVs) to PGCIL.
PGCIL won each of the three projects. In March, it had also acquired the Ramgarh New Transmission under Phase 2, Part-A of the program.
On June 4, 2021, the complete shareholding of both the Fatehgarh Bhadla Transco and Sikar New Transmission, including 50,000 equity shares owned by RECPDCL, was given to PGCIL at par value and with all its assets.
Fatehgarh Bhadla Transco, incorporated on June 2, 2020, to evacuate power from Solar energy zones in Rajasthan (8.1 GW) under Phase 2-Part B, on a build, own, operate and maintain basis.
The transmission system includes developing a 765kV D/C line and associated bays extension work in Rajasthan. The system is an Inter-State Transmission System (ISTS) project slated for completion within 18 months.
The aggregate amount in which the Transco has been acquired is about Rs 130.4 million, including 50,000 equity shares at par at Rs 10 along with assets and liabilities.
Whereas Sikar New Transmission, incorporated on June 11, 2020, to evacuate power from Solar energy zones in Rajasthan (8.1 GW) under Phase-2- Part C on a build, own, operate, and maintain basis.
The transmission system comprises setting a new 765/400kV Substation at Sikar-2, 765kV D/C Transmission line, 400kV D/C Transmission line. It is also an ISTS project, slated for completion within 18 months.
The aggregate amount in which Sikar was acquired is about Rs 185.4 million.
As we have reported earlier, on May 21, its PGCIL approved an investment of Rs 22.20 billion for commissioning several power transmissions projects.
Also read: PGCIL to invest Rs 22.20 bn in power transmission network
Also read: India drafts ancillary services market regulations for energy storage
Power Grid Corporation of India (PGCIL) has acquired two transmission projects Fatehgarh Bhadla Transco Ltd and Sikar New Transmission Ltd under Phase 2, Part-B and C of the transmission strengthening program. Both of the projects have to evacuate 8.1 GW of power from solar energy zones in Rajasthan.
REC invited bids in December 2020 to develop transmission systems to evacuate power from solar energy zones in Rajasthan. And the invitation was extended to transmission service suppliers under Phase 2 for Part-A, B, and C of the transmission strengthening program to evacuate 8.1 GW of power from these zones.
REC Ltd鈥檚 wholly-owned subsidiary REC Power Distribution Company Ltd (RECPDCL) gave the two project Special purpose vehicles (SPVs) to PGCIL.
PGCIL won each of the three projects. In March, it had also acquired the Ramgarh New Transmission under Phase 2, Part-A of the program.
On June 4, 2021, the complete shareholding of both the Fatehgarh Bhadla Transco and Sikar New Transmission, including 50,000 equity shares owned by RECPDCL, was given to PGCIL at par value and with all its assets.
Fatehgarh Bhadla Transco, incorporated on June 2, 2020, to evacuate power from Solar energy zones in Rajasthan (8.1 GW) under Phase 2-Part B, on a build, own, operate and maintain basis.
The transmission system includes developing a 765kV D/C line and associated bays extension work in Rajasthan. The system is an Inter-State Transmission System (ISTS) project slated for completion within 18 months.
The aggregate amount in which the Transco has been acquired is about Rs 130.4 million, including 50,000 equity shares at par at Rs 10 along with assets and liabilities.
Whereas Sikar New Transmission, incorporated on June 11, 2020, to evacuate power from Solar energy zones in Rajasthan (8.1 GW) under Phase-2- Part C on a build, own, operate, and maintain basis.
The transmission system comprises setting a new 765/400kV Substation at Sikar-2, 765kV D/C Transmission line, 400kV D/C Transmission line. It is also an ISTS project, slated for completion within 18 months.
The aggregate amount in which Sikar was acquired is about Rs 185.4 million.
As we have reported earlier, on May 21, its PGCIL approved an investment of Rs 22.20 billion for commissioning several power transmissions projects.
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Also read: PGCIL to invest Rs 22.20 bn in power transmission network
Also read: India drafts ancillary services market regulations for energy storage
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