Mumbai, 25th November 2013: Techno Electric & Engineering Company Ltd (TEECL), one of the leading power sector EPC Companies in the country, with a presence in Power Generation & Transmission, has bagged a concession from PFC Consulting Ltd for building a transmission network at Patran, Punjab.
The concession has been awarded on Build, Own, Operate and Maintain (BOOM) basis for a period of 35 years. Techno Electric emerged as the successful bidder selected through ‘tariff based competitive bidding guidelines for transmission services’, issued by the Ministry of Power.
The project is being developed through Patran Transmission Company Limited, a SPV 100% acquired by Techno Electric from PFC Consulting Limited. The Rs 200 crore project will be completed within 30 months from the date of award and will ensure a sustainable income flow of around Rs 1,000 crore as transmission charges to the SPV over the concession period.
The 400kV Transmission System comprises of LILO of Both circuits of Patiala-Kaithal 400kV 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.
Commenting on the development, Mr. P.P Gupta, Managing Director, Techno Electric and Engineering Co Ltd, said, “The contract broadens our portfolio of power transmission projects. After the successful commissioning of the Jhajjar transmission network in Haryana, we are glad to work on yet another project, this time with a 100% SPV under Techno Electric. The order by PFC emphasizes 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.”
About Techno Electric and Engineering Co. Ltd:
Techno Electric and Engineering Company Limited (TEECL), headquartered in Kolkata, is a leading EPC company in the power sector. TEECL provides Engineering, Procurement and Construction services to all three segments of power sector namely Generation, Transmission and Distribution. It has been involved in commissioning over 50% of India’s thermal power generating capacity and setting up major portion of the National Grid, in one capacity or the other. With over three decades of rich experience in the power sector, TEECL has been the preferred vendor for all PSUs. BHEL awarded TEECL as the best electrical vendor for the year 2010.
TEECL has seen vertical growth into Power Generation (2009) and Transmission Network (2010). TEECL along with its subsidiary Simran owns 207.35 MW of wind energy assets in Tamil Nadu & Karnataka. TEECL in a JV owns a 400 KV, 100 km long Transmission System from Rohtak to Sonepat with 2 No. Sub-Stations of 400/220 KV of 24 Bays each. The project is the first ever Viability Gap Funded project in the country.