Tata Power Secures Bikaner Transmission Renewable Energy Project for INR 1,544 Crore from PFC

Tata Power Secures Bikaner-III Neemrana-II Transmission Project for INR 1,544 Crore

Tata Power Ltd has successfully secured the Bikaner-III Neemrana-II Transmission renewable energy project through a competitive bid, marking a significant milestone in the renewable energy sector.

Transmission Project Overview

The transmission project, to be executed under the Build-Own-Operate-Transfer (BOOT) model, aims to facilitate the evacuation of 7.7 gigawatts (GW) of renewable energy generated at the Bikaner Complex in Rajasthan.

Acquisition Details

Tata Power Ltd clinched the bid with a winning amount of approximately Rs 1,544 crore, further reinforcing its commitment to sustainable energy initiatives.

Special Purpose Vehicle (SPV) Structure

The energy project is structured as a Special Purpose Vehicle (SPV), established by PFC Consulting Limited, a subsidiary of Power Finance Corporation. This SPV design is instrumental in isolating financial risks, enhancing project efficiency.

Transmission Corridor Establishment

The project involves the creation of a 340 kilometers transmission corridor, connecting the Bikaner-III pooling station to the Neemrana II substation. This infrastructure upgrade is crucial for seamless energy transfer.

Project Maintenance and Duration

Tata Power will be responsible for the maintenance of the transmission project for an extensive period of 35 years. The project is expected to be operational within 24 months from the SPV transfer date.

Aligning with National Energy Goals

Upon successful commissioning, the project aligns with the Ministry of Power’s 2022 roadmap, contributing to the integration of over 500 gigawatts (GW) of renewable energy capacity into the national grid by 2030.

Expansion in Renewable Energy Portfolio

In a parallel development, Tata Power Renewable Energy Limited (TPREL), a subsidiary, has been awarded a significant project involving the development of a 200 MW firm and dispatchable renewable energy (FDRE) project with SJVN.

Innovative Hybrid Configuration

The newly awarded project showcases an innovative hybrid configuration, combining solar, wind, and battery storage components. Each component is meticulously sized to optimize their capacities, reflecting Tata Power’s commitment to cutting-edge renewable solutions.

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