In the reverse auction held by REC Ltd, Adani Transmission placed a levelised tariff bid of Rs 132.65 crore, the lowest among the four bidders. Power Grid Corporation of India Ltd (PGCIL) bid at Rs 146.3 crore, the highest among the bidders, including Dilip Buildcon and Sterlite Grid Twenty-Eight.

In a regular tender, a seller puts up an item, and buyers place bids until the close of the auction, at which time the item goes to the highest bidder. In reverse tenders, sellers bid for the prices at which they are willing to sell their goods and services. In a reverse tender, the buyer puts up a request for required goods or services. Sellers then place bids for the amount they are willing to be paid for the goods or services, and at the end of the auction, the seller with the lowest amount wins.

Last week, Adani Transmission had the first package of the same tender at a levelised tariff bid of Rs 142.98 crore. Power Grid Corporation had bid at Rs 159.86 crore, higher than Sterlite Grid 12 and Dilip Buildcon, the two other bidders.

The transmission works under the second package will be spread over the area of Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company (MPMKVCL) and Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (MPPOKWVCL).

The project involves the construction of:

Three 220/132kV substations
One 220/33kV substation
Fourteen 132kV substations

Transmission works under the first package will be spread over the area of Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company (MPMKVCL) Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company (MPPKWVCL).

The project involves the construction of:

One 400kV gas insulated substation
Two 220/132 kV substations
One 220/33 kV substation
Eleven 132 kV substations and
Two 132/33 kV gas-insulated substations