BSE-listed Techno Electric & Engineering, a leading EPC contractor and independent power producer (IPP), will build a transmission network at Patran, Punjan on build, own, operate and maintain (BOOM) basis.
The Rs 200 crore transmission network will be developed through Patran Transmission Company, a special purpose vehicle (SPV), now 100 per cent acquired by Techno Electric from PFC Consulting.
The 400 KV transmission system comprises of LILO of both circuits of Patiala-Kaithal 400 KV double circuit triple snow bird Line at Patran (5 KM) and 400/220KV substation with 14 bays at Patran, Punjab.
The inter-state network will have a system capacity to evacuate 1,200 mw of power, Techno Electric top officials said. The Kolkata-headquartered company has bagged the contract on the basis of BOOM for a period of 35 years.
Incidentally, Techno Electric emerged as the successful bidder selected through ‘tariff based competitive bidding guidelines for transmission services’, issued by the union power ministry.
“This promises to broaden our portfolio of power transmission projects. After the successful commissioning of the Jhajjar transmission network in Haryana, we are excited to work on yet another project, this time with a 100 per cent SPV under Techno Electric. The order by PFC emphasises on the significance of private participation in building India’s power transmission projects with new capacities and upgraded technology. We look forward to bidding and winning similar projects in the future,” said PP Gupta, MD, Techno Electric and Engineering.
The project will be completed within 30 months from the date of award of the contract and will ensure a sustainable income flow of around Rs 1,000 crore as transmission charges to the SPV over the concession period, Gupta said.
The company is actually betting high on transmission line and sub-stations being built on PPP model. It is already putting up 2 sub-stations and 100 km transmission line in Hariyana under KT Jhajhhar project, jointly with Kalpataru Power Transmission Ltd and is keen on replicating the same model in other parts of the country.
The EPC business of the company notched up a topline revenue of Rs 515 crore in the last fiscal, while wind power business earned a topline revenue of Rs 180 crore and it is expecting its EPC business to grow by 25 per cent for the next one to two years.
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