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Adani Power has won all three transmission projects in Chhattisgarh worth over ₹3,500 crore that were up for auction by the Power Finance Corporation.
The Gautam Adani-led company beat Vedanta Group’s Sterlite Grid to win the ₹825-crore Chhattisgarh A transmission project.
The project only saw two bidders in the financial bid stage because it was a challenging project crossing 70 existing transmission lines in the region.
The qualified bidders for the project were Power Grid Corporation, L&T, Essel Infrastructure, Sterlite Grid, Jindal Power, Adani Power, Isolux and Kalpataru Power Transmission Ltd.
However, only Sterlite Grid and Adani Power participated in the financial bid stage.
While there was more competition for the ₹2,000-crore Chhattisgarh B project, Adani Power saw competition from PowerGrid, Sterlite Grid, Essel Infrastructure and Kalpataru Power Transmission Ltd (KPTL).
For the ₹863-crore Sipat project, Adani Power was the lowest bidder amongst Jindal Power, Sterlite Grid, KPTL and PowerGrid.
Anil Agarwal-promoted Sterlite Grid was the ‘L2’ bidder in all the three projects.
The company won the Maheshwaram Transmission project worth ₹400 crore floated by the Rural Electrification Corporation.
All the projects are part of the Government’s plan to auction ₹1 lakh crore worth of transmission projects to strengthen the power evacuation infrastructure in the country.
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