The Central Electricity Regulatory Commission (CERC) has approved annual transmission charges of Rs 5.89 billion for the Pune-III Transmission Limited project, part of efforts to evacuate 7 GW of renewable power from Gujarat’s Khavda region under Phase IV, Part D. The project will be implemented on a Build, Own, Operate, and Transfer (BOOT) basis and was originally floated by PFC Consulting Limited (PFCCL), later awarded to Adani Energy Solutions Limited through tariff-based competitive bidding.

The process commenced with the publication of the Request for Proposal on 19 October 2023, followed by bid submissions on 19 April 2024. Financial bids were opened on 25 September 2024, and an intense e-reverse auction, lasting 178 rounds, concluded on 28 September 2024. The final discovered tariff, quoted by Adani Energy Solutions, exceeded CERC's earlier levelised tariff estimate of Rs 4.56 billion by 11.24 per cent. The rise was attributed to revised Right of Way (RoW) compensation norms, changes in land values, and a recalculated completion factor for project cost escalation. The Cost Committee subsequently revised the project cost from Rs 33.81 billion to Rs 40.21 billion.

Despite the higher bid, the Bid Evaluation Committee and the CERC deemed the process transparent, competitive, and consistent with the Ministry of Power’s guidelines. A Letter of Intent was issued to Adani Energy on 21 October 2024, and the company acquired Pune-III Transmission on 19 November 2024 after furnishing a Rs 700 million performance guarantee. The Commission has now adopted the Rs 5.89 billion per annum tariff for the duration of the Transmission Service Agreement.