TATA Power Signs Acquisition With Bikaner For A Renewable Energy Project

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  • Tata Power has committed to a 35-year maintenance responsibility for a transmission project
  • This project aims to integrate more than 500 GW of renewable energy capacity into the national grid by 2030

Tata Power Ltd has secured the Bikaner-III Neemrana-II Transmission renewable energy project with a successful bid of approximately Rs 1,544 crore.

This project is a special purpose vehicle (SPV) set up by PFC Consulting Limited. SPV is also known as a special purpose entity (SPE). It is a kind of subsidiary made by a parent company to separate its financial risks.

This project is on a Build-Own-Operate-Transfer (BOOT) basis, which has to facilitate the evacuation of 7.7 gigawatts (GW) of renewable energy from the Bikaner Complex in Rajasthan. “The project entails the establishment of a 340 kilometres transmission corridor from Bikaner-III pooling station to Neemrana II substation,” the company said in an exchange filing.

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Tata Power has committed to a 35-year maintenance responsibility for a transmission project, which is expected to become operational within 24 months from the transfer date of the project’s Special Purpose Vehicle (SPV). This project holds significant importance in the Ministry of Power’s 2022 roadmap, which aims to integrate more than 500 gigawatts (GW) of renewable energy capacity into the national grid by 2030.

Additionally, Tata Power’s subsidiary, Tata Power Renewable Energy Limited (TPREL), recently secured a contract to develop a 200 MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN. The project has been meticulously designed with a hybrid configuration that includes solar, wind, and battery storage components, all appropriately sized to meet their respective capacity requirements.

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