Tata Power Limited has secured 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 has received the letter of intent after emerging as a successful bidder in the tariff-based competitive bidding process, as per the guidelines issued by the Ministry of Power. The transmission project, to be developed on build-own-operate-transfer basis, will facilitate the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project involves the development of a transmission corridor spanning approximately 340 km from the Bikaner-III pooling station to the Neemrana II substation. Tata Power is set to manage the transmission project for a duration of 35 years. With an estimated cost of Rs 15.44 billion, the project is anticipated to be commissioned within 24 months from the transfer of the project SPV.