Key Highlights
- Dilip Buildcon has been declared the L-1 bidder for a 400 kV GIS Solapur/Paranda Switching Station project in Dharashiv, Maharashtra.
- The project is being developed under the Tariff Based Competitive Bidding route on a Build, Own, Operate and Transfer basis.
- The EPC value for Dilip Buildcon is ₹1,265 crore excluding GST.
- REC Power Development and Consultancy Limited is acting as the Bid Process Coordinator on behalf of Maharashtra State Transmission Utility.
- Dilip Buildcon will acquire 100% equity in the project Special Purpose Vehicle.
- The project scope includes development, financing, design, engineering, procurement, construction, testing and commissioning.
- The scope also covers operation and maintenance of the transmission assets.
- Construction and commissioning are scheduled to be completed within 24 months from the Effective Date.
- The project has a contractual period of 35 years from the Commercial Operation Date.
Dilip Buildcon Limited has been declared the L-1 bidder by REC Power Development and Consultancy Limited (RECPDCL), acting as the Bid Process Coordinator on behalf of Maharashtra State Transmission Utility, for the development and operation of a 400 kV Gas Insulated Substation (GIS) at Solapur/Paranda in Dharashiv district, Maharashtra.
According to the company’s disclosure dated September 21, 2026, the project will be implemented under the Tariff Based Competitive Bidding (TBCB) route on a Build, Own, Operate and Transfer (BOOT) basis.
₹1,265 Crore EPC Value Excluding GST
The disclosure states that the EPC value for Dilip Buildcon is ₹1,265 crore, excluding Goods and Services Tax (GST).
The scope covers development, financing, design, engineering, procurement, construction, testing, commissioning, operation and maintenance of the transmission assets associated with the project.
The project is to be implemented as a domestic transaction, with the transmission system being developed under the TBCB framework.
400 kV GIS Solapur/Paranda Switching Station
The project involves the establishment of a 400 kV Gas Insulated Substation (GIS) at Solapur/Paranda in Dharashiv district of Maharashtra.
Dilip Buildcon has been selected as the successful bidder for acquiring 100% equity in the project Special Purpose Vehicle (SPV) and will act as the Transmission Service Provider for the development, ownership, operation and maintenance of the intra-state transmission system.
The transmission project will be executed under the BOOT model through the TBCB route and will be governed by a Transmission Service Agreement (TSA).
Construction to Be Completed in 24 Months
As per the company disclosure, construction and commissioning of the transmission project are scheduled to be completed within 24 months from the Effective Date.
Following the Commercial Operation Date (COD), the project will have a contractual period of 35 years.
This means the project structure envisages a 24-month construction and commissioning period followed by a 35-year period from COD under the specified transmission service arrangement.
RECPDCL as Bid Process Coordinator
REC Power Development and Consultancy Limited (RECPDCL) has acted as the Bid Process Coordinator on behalf of Maharashtra State Transmission Utility for the project.
The selection of Dilip Buildcon as the successful bidder involves the acquisition of 100% equity in the project SPV, along with responsibilities associated with the development, financing, ownership, operation and maintenance of the transmission system.
