The Ministry of Power, Government of India announced that REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has handed over the project-specific Special Purpose Vehicle (SPV) formed for the construction of Transmission Project ‘KPS1 Transmission Limited’ to Megha Engineering & Infrastructures Ltd on 20th April 2023. Let’s dive into the details of this recent development in the power sector.
RECPDCL’s Successful Transmission Projects Handover
With the transfer of the ‘KPS1 Transmission Ltd’ project to Megha Engineering & Infrastructures Ltd, RECPDCL has successfully handed over 52 transmission projects, amounting to a total cost of around Rs 70,974 crores. The Ministry of Power, Government of India has entrusted the responsibility of coordinating the bid process for selecting the Transmission Service Provider (TSP) to RECPDCL.
Handover Ceremony Details
Shri Rahul Dwivedi, CEO, RECPDCL, handed over the SPV to Shri Pravin Sharad Dixit, Vice President, Megha Engineering & Infrastructures Ltd, at a ceremony held in Gurugram. The ceremony was attended by senior officials from both RECPDCL and Megha Engineering & Infrastructures Ltd, including PS Hariharan, CGM, RECPDCL, and representatives from CTUIL.
Selection Process
Megha Engineering & Infrastructures Ltd emerged as the successful bidder for the Inter-State Transmission Project of the Ministry of Power, Government of India, through Tariff Based Competitive Bidding (TBCB). The selection process adhered to the Standard Bidding Documents and Guidelines as notified by the Ministry of Power, Government of India.
Project Details
The KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line implementation and augmentation of Khavda PS1 form the core of the ‘KPS1 Transmission Ltd’ project. The project is expected to be completed in 21 months. Megha Engineering & Infrastructures Ltd will be responsible for executing the project as per the guidelines set by the Ministry of Power, Government of India.
Conclusion
The transfer of the ‘KPS1 Transmission Ltd’ project from RECPDCL to Megha Engineering & Infrastructures Ltd marks another successful transmission project handover in the Indian power sector. The use of Tariff Based Competitive Bidding (TBCB) for selection of the TSPs has ensured transparency and adherence to Standard Bidding Documents and Guidelines notified by the Ministry of Power, Government of India. This project will help boost India’s transmission infrastructure, ultimately benefitting the Indian economy as a whole.