 "Adani Energy Solutions preferred bidder for HVDC transmission project")
Adani Energy Solutions (AESL) is the preferred bidder for a transmission system project housed under Rajasthan Part-I Power Transmission, according to people in the know.
The roughly Rs 25,000 crore project is noted will be AESL’s largest order win ever, once formally awarded. As of September, according to AESL's media statement, its under-construction project pipeline for transmission was worth Rs 27,300 crore and comprised 12 projects.
The prefered bid under TBCB (tariff-based competitive bidding) — is for an interstate transmission system (ISTS) termed as “Transmission system for evacuation of power from REZ in Rajasthan (20 Gw) under Phase-III Part-I” and is housed under project SPV (special purpose vehicle) “Rajasthan Part-I Power Transmission Ltd”.
This was a re-tender process, after the earlier tendering process was annulled for undisclosed reasons. As per REC Power Development and Consultancy (RECPDCL) website, Power Grid Corporation of India (PGCIL), Sterlite Power, and Indigrid were other qualified bidders for this project.
“The project includes setting up 6 Gw HVDC (high-voltage direct current) terminal stations at Bhadla (Rajasthan) and Fatehpur (UP), transmission line and associated AC network between the two stations,” said the person earlier mentioned in the story. An email query sent to AESL remained unanswered.
AESL informs exchanges on project wins on transfer of SPVs. The company’s last such disclosure was in November. AESL then said it has executed a share purchase agreement (SPA) with PFC Consulting Limited for Pune-III Transmission for evacuation of 7 Gw of renewable energy (RE) from Khavda RE Park, under Phase-IV Part-D package.
In a recent investor call, Kandarp Patel, chief executive officer (CEO) of AESL, noted that the company was confident of winning projects worth Rs 15,000-20,000 crore over the next six months on the back of Rs 85,000 crore worth of project bids in the pipeline.