In a significant development, Tata Power, one of India's leading integrated power companies, has successfully secured the bid to acquire Bikaner-III Neemrana-II Transmission Limited, a special purpose vehicle (SPV) established by PFC Consulting Limited, a subsidiary of Power Finance Corporation.
The company clinched the letter of intent (LOI) following its triumphant participation in the Tariff-Based Competitive Bidding (TBCB) process, adhering to the guidelines set by the Union Ministry of Power.
The transmission project, to be executed on a Build-Own-Operate-Transfer (BOOT) basis, aims to facilitate the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project's scope encompasses the establishment of an approximately 340 km transmission corridor from the Bikaner-III pooling station to the Neemrana II substation.
Tata Power is slated to manage the transmission project for a duration of 35 years, with an estimated project cost of ₹1,544 crore. The anticipated commissioning timeframe is set at 24 months from the date of the project SPV transfer.
Upon successful completion, the project is poised to play a crucial role in the Ministry of Power's ambitious plan, unveiled in 2022, to integrate over 500 GW of renewable energy capacity into the national grid by 2030. This acquisition solidifies Tata Power's commitment to advancing India's renewable energy infrastructure and underscores its strategic role in the nation's sustainable energy future.
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