Tata Power acquires Bikaner-Neemrana Transmission Project to boost RE evacuation
New Delhi: Tata Power announced on Saturday that it has secured the Bikaner-Neemrana Transmission Project through a bidding process. The project is managed by Bikaner-III Neemrana-II Transmission Ltd, a special purpose vehicle (SPV) established by PFC Consulting. According to a statement from the company, the acquisition of the Bikaner-Neemrana Transmission Project will help to enhance the evacuation of renewable energy in India.
Tata Power acquired transmission project via TBCB process
The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by Ministry of Power, it added.
Bikaner-Neemrana Transmission Project
The project, which will be developed on a Build-Own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan.
The project entails establishment of a 340-km transmission corridor from Bikaner-III pooling station to Neemrana II substation.
Tata Power will maintain the transmission project for a period of 35 years. It is estimated to cost Rs 1,544 crore and is expected to be commissioned within 24 months from the date of transfer of the project SPV.