Torrent Power Grid Limited

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As permitted by GoI, Power Grid Corporation of India Limited (PGCIL), the CTU in India and Torrent Power Limited (TPL) formed a Joint Venture (JV) for setting up transmission system for evacuation of power from 1130 MW SUGEN power project to Ahmedabad Distribution Area besides LILO on Gandhar-Vapi line of PGCIL. The JV or Company is called Torrent Power Grid Limited (TPGL). The JV secured a license from CERC to set up a 249 km long 400 kV transmission line from the upcoming 1130 MW SUGEN project to the Pirana Sub-station being built by PGCIL. PGCIL holds 26% equity in this JV while TPL holds 74% equity. TPGCL was to build the transmission lines on a build, own and operate basis at an estimated investment of USD 87.5 million and will be completed in a phased manner which will meet the requirements of power evacuation of the SUGEN power project. Phase I of the project comprises of the 28 km Vapi Jhanor LILO (Line-in Line-out) while Phase II comprisesdof the 80 km Jhanor- Dehgam line. Phase I was commissioned in March 2009 and phase I in march 2010. Phase III that comprised of a 141 km line connecting phase II with the Pirana substation of PGCIL was under implementation in 2011 In January 2000, Govt. of India (GoI) issued detailed guidelines for private sector participation in transmission. The Guidelines envisage two routes for inviting private sector participation. One route is through a Joint Venture of PGCIL and private investor, wherein the Central Transmission Utility (CTU)/State Transmission Utility (STU) shall own at least 26% equity and the balance shall be contributed by the Joint Venture Partner (JVP). The other route called IPTC (Independent Power Transmission Corporation) is to facilitate private investors including investors coming through FDI to invest 100% by themselves.