The project involves development of a 400 kV substation and transmission lines in Belagavi, to be executed under the BOOT (Build, Own, Operate, Transfer) model.
March 11, 2026
Dilip Buildcon Ltd has received a Letter of Intent (LoI) from REC Power Development and Consultancy Limited to develop a major intra-state power transmission project in Karnataka, with an estimated EPC value of about INR 1,850 crore (excluding GST).
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The project includes the establishment of a 400 kV substation at Mekhali in Belagavi district along with associated transmission lines to strengthen the state’s power infrastructure.
Under the agreement, Dilip Buildcon will acquire 100 percent equity in the project’s Special Purpose Vehicle (SPV) and act as the Transmission Service Provider (TSP) responsible for the development, ownership, operation, and maintenance of the transmission system.
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The project will be implemented under the BOOT model through the Tariff Based Competitive Bidding (TBCB) route. Construction and commissioning are expected to be completed within 24 months from the effective date, while the concession period will extend for 35 years from the Commercial Operation Date (COD).
