The project special purpose vehicles of three intrastate transmission schemes in Maharashtra were formally transferred to their winning developers on September 28 under the tariff-based competitive bidding route.

Resonia Ltd won the Balsane Power Transmission scheme for a 765/400/220kV substation at Dhule with a winning tariff of Rs 2,367.85 million per year, marking its debut in Maharashtra’s intrastate-TBCB space. Apraava Energy secured the Raigad Power Transmission scheme for the Kandalgaon substation, its first-ever intrastate-TBCB win.

Montecarlo Energy Ltd was selected for the Latur REZ Transmission scheme covering a 400/220/132kV substation. Big ISTS players outbid Power Grid and Adani Energy Solutions in the contests.

Separately, Power Grid won its ninth FY27 TBCB project with annual charges of Rs 430.67 crore for the Lakadia-C renewable evacuation scheme, which includes a new 765/400/220kV Alephata substation in Maharashtra. The awards underline the momentum in India’s transmission buildout to carry renewable power to the grid.

India’s transmission sector has seen record bidding activity this year as the government races to build evacuation capacity for 500 GW of non-fossil power by 2030. The TBCB route, which awards projects to the lowest bidder, has drawn aggressive competition from established utilities and new entrants alike.