Torrent Power Wins Transmission Project in Solapur, Maharashtra
By Rediff Money Desk, NEWDELHI Feb 27, 2024 22:48
Torrent Power has secured a transmission project in Solapur, Maharashtra, for evacuating power from renewable energy projects. The project will involve building and operating a transmission line for 35 years.
New Delhi, Feb 27 (PTI) Torrent Power on Tuesday said that it has made its foray into power transmission segment by bagging a project for the evacuation of power from renewable energy projects in Solapur, Maharashtra.
The annual transmission charges of the project is Rs 50 crore, a company statement said.
Torrent Power will build this project on BOOT basis (build own operate transfer) and operate it for 35 years. The project will be commissioned in 24 months.
According to the statement the Torrent Power has emerged as the successful bidder and has received Letter of Intent from PFC Consulting Ltd on February 27, 2024 for Establishment of Inter-state transmission scheme Transmission System for Evacuation of Power from RE Projects in Solapur (1,500 MW) SEZ in Maharashtra under Tariff Based Competitive Bidding (TBCB) Process.
The project has been conceived to evacuate Renewable energy with a capacity of 1,500 MW from Solapur and entails the setting up of a transmission line of approx. 44 kms from existing Solapur substation of PGCIL (Power Grid) to Solapur substation (to be established by Torrent Power).
In due course, the PFC Consulting Ltd will transfer the project SPV (special purpose vehicle) to Torrent Power.
While Torrent Power owns and operates Transmission projects; the award of this project marks Torrent Power's foray into the development of Transmission projects under the TBCB framework.
The annual transmission charges of the project is Rs 50 crore, a company statement said.
Torrent Power will build this project on BOOT basis (build own operate transfer) and operate it for 35 years. The project will be commissioned in 24 months.
According to the statement the Torrent Power has emerged as the successful bidder and has received Letter of Intent from PFC Consulting Ltd on February 27, 2024 for Establishment of Inter-state transmission scheme Transmission System for Evacuation of Power from RE Projects in Solapur (1,500 MW) SEZ in Maharashtra under Tariff Based Competitive Bidding (TBCB) Process.
The project has been conceived to evacuate Renewable energy with a capacity of 1,500 MW from Solapur and entails the setting up of a transmission line of approx. 44 kms from existing Solapur substation of PGCIL (Power Grid) to Solapur substation (to be established by Torrent Power).
In due course, the PFC Consulting Ltd will transfer the project SPV (special purpose vehicle) to Torrent Power.
While Torrent Power owns and operates Transmission projects; the award of this project marks Torrent Power's foray into the development of Transmission projects under the TBCB framework.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Kretto Syscon
- 1.03 ( -4.63)
- 137756357
- Srestha Finvest
- 0.94 (+ 9.30)
- 33799503
- Thinkink Picturez
- 2.03 (+ 4.64)
- 29725808
- Vodafone Idea L
- 8.09 ( -0.12)
- 20197874
- Rajnish Wellness
- 1.86 (+ 4.49)
- 20001444
MORE NEWS
Sensex, Nifty Rebound After Downtrend -...
Indian stock market benchmarks Sensex and Nifty rebounded in early trade on Tuesday,...
Rupee Recovers, Rises 8 Paise to 84.78 vs Dollar
The Indian rupee appreciated against the US dollar in early trade on Tuesday, supported...
Brookfield India REIT Raises Rs 3,500 Cr via QIP
Brookfield India REIT launches a Qualified Institutional Placement (QIP) issue to raise...