Power Grid Corporation of India Ltd has informed that the company has been selected as the successful bidder for establishing transmission system associated with independent power producers (IPPs) of Vemagiri area in Andhra Pradesh.
According to a statement filed with the stock exchanges, Power Grid won the deal under tariff-based competitive bidding process. Vemagiri Transmission System Ltd is the special purpose vehicle incorporated to establish the transmission system on build, own operate and maintain basis.
The area has several gas-based power projects and significant expansion is now under way requiring better transmission lines to evacuate power.
The transmission system comprises of 765 kV D/C is to traverse the State and is to be constructed over a period of 36 months. This is the second project that Power Grid won under tariff-based competitive bidding.