Tata Power wins bid for Bikaner-III Neemrana-II Transmission Project
Tata Power, a leading force in India’s integrated power landscape, has successfully acquired Bikaner-III Neemrana-II Transmission Limited. This significant move came after Tata Power emerged as the successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, aligned with the guidelines set by the Union Ministry of Power.
The acquisition, a strategic decision by Tata Power, involves a project special purpose vehicle (SPV) initially established by PFC Consulting Limited, a subsidiary of Power Finance Corporation. This development reflects Tata Power’s commitment to enhancing India’s power infrastructure, particularly in the renewable energy sector.
The Bikaner-III Neemrana-II Transmission project, valued at approximately ₹1,544 crore, is set to play a crucial role in India’s renewable energy ambitions. The project, to be developed 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. Spanning nearly 340 kms, the transmission corridor will connect the Bikaner-III pooling station to the Neemrana II substation, highlighting its significance in the broader context of energy transmission.
Bikaner-III Neemrana-II Transmission Limited Acquired by Tata Power in Major Renewable Energy Project
Tata Power’s responsibility extends beyond the initial development of the project. The company is tasked with maintaining the transmission project for a substantial period of 35 years, ensuring long-term reliability and efficiency. The project’s estimated completion time is within 24 months from the date of transfer of the project SPV, marking a swift and efficient timeline for such a significant undertaking.
Upon successful commissioning, the project is expected to become a vital link in the roadmap unveiled by the Ministry of Power in 2022. This roadmap aims to integrate over 500 GW of renewable energy capacity into India’s national grid by 2030, underlining the country’s commitment to sustainable and renewable energy sources.
Tata Power’s strategic acquisition and its subsequent project development are pivotal steps in achieving India’s renewable energy goals. It underscores the company’s role in the national effort to boost green energy and infrastructure development, aligning with global sustainability initiatives.