Latest news with #TBCB
Time of India
12 hours ago
- Business
- Time of India
Hartek bags ₹138 cr POWERGRID contract for 400kV substation in Karnataka
New Delhi: Hartek Group has secured a contract worth ₹138 crore from Power Grid Corporation of India Ltd ( POWERGRID ) for developing a 400kV AIS Substation under the Transmission Scheme for integration of renewable energy zones in Karnataka, the company said in a statement. The substation project—Package SS-66T—is part of the infrastructure required to integrate renewable energy from Davanagere, Chitradurga and Ballari Renewable Energy Zones (REZ) into the national grid. The contract was awarded through the Tariff-Based Competitive Bidding (TBCB) route. The scope of work includes design, engineering, procurement, construction, testing at the manufacturer's works, supply, unloading, storage, erection, testing, and commissioning of the substation. 'We are honored to be entrusted with this critical infrastructure project by POWERGRID. The development of the 400kV AIS Substation under the TBCB route reinforces Hartek's expertise in delivering high-voltage transmission projects and aligns with our commitment to supporting India's renewable energy integration goals. This project will strengthen the national grid and accelerate the green energy transition ,' said Simarpreet Singh, Executive Director & CEO, Hartek Group. The substation is expected to enable the seamless evacuation of renewable energy generated in the Karnataka REZ and support India's target of achieving 500 GW of non-fossil fuel-based capacity by 2030. Hartek said the project would help in enhancing grid stability and reducing transmission losses. The company added that it continues to expand across power systems, renewables, and distribution infrastructure, with a growing portfolio aimed at supporting India's energy transition.
The Hindu
5 days ago
- Business
- The Hindu
Four private power companies show interest in setting up 2400 MW plant at Pirpainti in Bihar
Four private power companies that included Adani Power, JSW Energy, Torrent Power and Bajaj Group's Lalit Power have shown interest in setting up a 2400 MW thermal power plant at Bhagalpur's Pirpainti in Bihar. It will be the largest private sector investment in the power sector in Bihar with an investment of ₹28,000 crore for the project. Under the project, three plants- one each of 800 MW capacity totaling 2400 MW- will be set up at Pirpainti as part of the Tariff Based Competitive Bidding (TBCB) process for which Bihar State Power Generation Company Limited (BSPGCL), Patna will be the nodal agency. Private power companies- Adani Power Limited, JSW Energy Limited, Torrent Power Limited, and Lalitpur Power Generation Company Limited, a subsidiary of Bajaj Group- submitted their applications following the bidding process initiated by BSPGCL, Patna. 'The generation company had on June 17, 2025 invited applications from private companies for participating in e-bidding with the last date for submission of application was June 25, 2025. The project entailing an investment of Rs 28,000 crore marks the largest private sector investment in the power sector of the state, 'A senior official of Energy Department said. The Bihar government in its cabinet meeting held on February 4, 2025 had given its in principle approval for the project. The state government has already acquired 1200 acres of land for setting up the plants and nominated M/s SBI Capital Markets Limited, Mumbai providing consultancy services for the purpose. The coal supply of 10.43 MTPA (Million Tonnes Per Annum) to the plant is likely to be linked with nearby coal block from Eastern Coalfields Ltd (ECL) while the plant would draw 60 cusecs of water from river Ganga if given clearance by the state government. 'The generation company would invite bid documents from the above mentioned power companies by July 02, 2025 while the last date for submitting bids will be July 11, 2025 and the technical bid will be opened the same day while financial bid will be opened on July 16, 2025 and 'Letter of Award' (LOA) will be issued within 30 days of the completion of the bidding process, 'the official further said. Once operational, the plants will primarily supply electricity to both the power distribution companies which cater to the needs of the state's power consumers. The two distribution companies- South Bihar Power Distribution Company Ltd and North Bihar Power Distribution Company Ltd- will have the first right to purchase power and surplus power, if any, can be sold to other buyers in the open market. The addition of new power plants would further boost and strengthen the power supply system of the state ensuring round the clock quality power supply to the consumers and agriculture and industries, accelerating the overall growth of the State.
Time of India
5 days ago
- Business
- Time of India
Four private power companies show interest in setting up 2,400MW plant at Pirpainti
Patna: Four private power companies — Adani Power, JSW Energy, Torrent Power and Bajaj Group's Lalitpur Power — have shown interest in setting up a 2,400-MW thermal power plant at Pirpainti in Bihar's Bhagalpur district, an energy department official said here on Friday. It will be first private sector investment — a whopping Rs 21,400 crore — in power sector in Bihar. Under the project, three plants — each of 800-MW capacity — will be set up at Pirpainti as part of Tariff-based Competitive Bidding (TBCB) process, for which Bihar State Power Generation Company Limited (BSPGCL), Patna, will be the nodal agency. Private power companies — Adani Power Limited, JSW Energy Limited, Torrent Power Limited and Lalitpur Power Generation Company Limited, a subsidiary of Bajaj Group — submitted their applications following a bidding process initiated by the BSPGCL. The power generation company had on June 17 invited applications from private companies for participating in e-bidding with the last date for the submission of application being June 25. The project entailing an investment of Rs 21,400 crore marks the largest private sector investment in the power sector of the state. It may be noted that Bihar govt, in its cabinet meeting held on Feb 4, 2025, had given its in principle approval for the project. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The state govt has already acquired 1,203 acres of land for setting up the plants and nominated M/s SBI Capital Markets Limited, Mumbai, for providing consultancy services for the purpose. Coal supply of 10.43 Million Tonnes Per Annum (MTPA) to the plant is likely to be linked with nearby coal block of Eastern Coalfields Ltd (ECL), while the plant would draw 60 cusecs of water from river Ganga if given clearance by the state govt. The BSPGCL will invite bid documents from the above-mentioned power companies by July 2, while the last date for submitting bids will be July 11. The technical bid will be opened the same day while financial bid will be opened on July 16, and "Letter of Award" (LOA) will be issued within 30 days of the completion of the bidding process. Once operational, the plants will primarily supply electricity to both South Bihar Power Distribution Company Ltd and North Bihar Power Distribution Company Ltd, which cater to the needs of the state's consumers. The two distribution companies will have the first right to purchase power and surplus power, if any, can be sold to other buyers in the open market. The addition of new power plant will ensure round the clock quality power supply to the consumers. Patna: Four private power companies — Adani Power, JSW Energy, Torrent Power and Bajaj Group's Lalitpur Power — have shown interest in setting up a 2,400-MW thermal power plant at Pirpainti in Bihar's Bhagalpur district, an energy department official said here on Friday. It will be first private sector investment — a whopping Rs 21,400 crore — in power sector in Bihar. Under the project, three plants — each of 800-MW capacity — will be set up at Pirpainti as part of Tariff-based Competitive Bidding (TBCB) process, for which Bihar State Power Generation Company Limited (BSPGCL), Patna, will be the nodal agency. Private power companies — Adani Power Limited, JSW Energy Limited, Torrent Power Limited and Lalitpur Power Generation Company Limited, a subsidiary of Bajaj Group — submitted their applications following a bidding process initiated by the BSPGCL. The power generation company had on June 17 invited applications from private companies for participating in e-bidding with the last date for the submission of application being June 25. The project entailing an investment of Rs 21,400 crore marks the largest private sector investment in the power sector of the state. It may be noted that Bihar govt, in its cabinet meeting held on Feb 4, 2025, had given its in principle approval for the project. The state govt has already acquired 1,203 acres of land for setting up the plants and nominated M/s SBI Capital Markets Limited, Mumbai, for providing consultancy services for the purpose. Coal supply of 10.43 Million Tonnes Per Annum (MTPA) to the plant is likely to be linked with nearby coal block of Eastern Coalfields Ltd (ECL), while the plant would draw 60 cusecs of water from river Ganga if given clearance by the state govt. The BSPGCL will invite bid documents from the above-mentioned power companies by July 2, while the last date for submitting bids will be July 11. The technical bid will be opened the same day while financial bid will be opened on July 16, and "Letter of Award" (LOA) will be issued within 30 days of the completion of the bidding process. Once operational, the plants will primarily supply electricity to both South Bihar Power Distribution Company Ltd and North Bihar Power Distribution Company Ltd, which cater to the needs of the state's consumers. The two distribution companies will have the first right to purchase power and surplus power, if any, can be sold to other buyers in the open market. The addition of new power plant will ensure round the clock quality power supply to the consumers.
Business Standard
7 days ago
- Business
- Business Standard
H.G. Infra Engg rises after incorporating WOS for battery energy storage project in Gujarat
H.G. Infra Engineering (HGIEL) rose 1.21% to Rs 1,053.50 after the company announced that it has incorporated of a wholly owned subsidiary (WOS), H.G. Choraniya Bess, on 25 June 2025. The new entity has been formed as a Special Purpose Vehicle (SPV) to develop Standalone Battery Energy Storage Systems (BESS) in Gujarat as part of the governments Tariff-Based Competitive Bidding (TBCB)Phase VI initiative. The SPV will operate in the battery energy storage segment, marking HGIEL's strategic entry into the renewable and sustainable energy segment. As a newly incorporated entity, the company stated that there is no immediate financial impact on its consolidated operations. The SPV has been incorporated with an authorised and subscribed share capital of Rs 15 lakh, comprising 1,50,000 equity shares of Rs 10 each. Being a wholly owned subsidiary, H.G. Choraniya Bess is classified as a related party under applicable regulations. However, HGIEL confirmed that, apart from the equity held by the parent company, neither the promoters, promoter group, nor any group companies have any direct or indirect interest in the new subsidiary. H.G. Infra Engineering is primarily involved in the construction of roads and highways in Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. HGIEL is accredited AA class by the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is registered as an SS class contractor by the Military Engineer Services (MES). The company reported a 22.65% decline in consolidated net profit to Rs 146.98 crore in Q4 FY25 as against Rs 190.03 crore posted in Q4 FY24. Revenue from operations fell 20.33% YoY to Rs 1,360.89 crore in the quarter ended 31 March 2025.
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Business Standard
05-06-2025
- Business
- Business Standard
PowerGrid stock gains 2% after acquiring MEL Power Transmission for ₹8.5 cr
PowerGrid share price today: Shares of Power Grid Corporation of India jumped over 2 per cent to hit an intraday high of ₹295.25 after the company announced the acquisition of MEL Power Transmission (MPTL), a project-specific special purpose vehicle (SPV), under the Tariff Based Competitive Bidding (TBCB) route. At 3 PM on Thursday, PowerGrid's stock was quoting at ₹294.55, up 2 per cent compared to previous day's close of ₹28.55 on the National Stock Exchange (NSE). In comparison, the benchmark Nifty50 index was trading at 24,72.6, up 107.4 points or 0.44 per cent. The stock has recovered nearly 20 per cent from its 52-week low of ₹247.3 touched on February 28, 2025. The company's total market capitalisation stood at ₹2.73 trillion. According to the exchange filing, the company acquired a 100 per cent equity stake in MPTL for a total consideration of around ₹8.53 crore. "The SPV was established for the implementation of the 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh' on a build, own, operate, and transfer (BOOT) basis," it added. The project comprises the development of a 400kV double-circuit (D/C) transmission line and associated bays at the existing Rewa PS (PG) substation in the state of Madhya Pradesh. The acquisition cost also includes the assets and liabilities of MPTL as of the acquisition date. However, the final purchase consideration remains subject to adjustment based on MPTL's audited financials, as per the filing. About Power Grid Corporation of India PowerGrid is mainly engaged in the power transmission business through its EHVAC/HVDC transmission network. The company has diversified into the telecom business by leveraging its pan-India transmission network through the stringing of optical ground wire(OPGW). The state-owned company also provides consultancy services to domestic and international clients by leveraging its capability and experience in the field of power transmission, sub-transmission, distribution management, load dispatch & communication etc. Incorporated in October 1999, Power Grid is a Schedule A 'Maharatna' public sector enterprise (PSE). The government of India owns a 51.34 per cent stake in the company and the remaining is held by institutional investors and the public.
