Bid process coordinator PFC Consulting Ltd (PFCCL) has newly incorporated three wholly-owned subsidiaries that will act as project special purpose vehicles (SPV) for as many interstate transmission system (ISTS) schemes being developed under the tariff-based competitive bidding (TBCB) route.
The broad details of three SPVs are as follows:
Project SPV: Mandsaur I RE Transmission Ltd
Scheme: Augmentation of transformation capacity and implementation of line bays at Mandsaur substation for RE nterconnection
Location: Madhya Pradesh
Type of scheme: Interstate (ISTS)
Current status: Developer selection currently underway
NCT-estimated cost: Rs.318 crore
Gestation period: 18 months
Project SPV: Vindhyachal Varanasi Transmission Ltd
Scheme: Interregional (NR-WR) transmission system strengthening to relieve the loading of 765kV Vindhyachal-Varanasi D/C line
Location: Uttar Pradesh, Madhya Pradesh
Type of scheme: Interstate (ISTS)
Current status: Developer selection currently underway
NCT-estimated cost: Rs.2,368 crore
Gestation period: 24 months
Project SPV: Morena I SEZ Transmission Ltd
Scheme: TS for evacuation of power from RE projects in Morena SEZ in Madhya Pradesh-Phase I (2500 MW)
Location: Madhya Pradesh
Type of scheme: Interstate (ISTS)
Current status: Developer selection currently underway
NCT-estimated cost: Rs.1,692 crore
Gestation period: 27 months
These three SPVs will be transferred to the successful developer (transmission service provider) being selected under the TBCB framework.
Role of BPC
In general, the role of a bid process coordinator in the TBCB context is to carry our pre-project work like preparing the project profile/report, initiating the land acquisition process, seeking forest clearance (if required) and conducting the bidding process.
Currently, on two entities – PFC Consulting Ltd (PFCCL, a wholly-owned subsidiary of Power Finance Corporation Ltd) and REC Power Development & Consultancy Ltd (RECPDCL, a wholly-owned subsidiary of REC Ltd) – act as bid process coordinators for development of interstate and intrastate transmission system schemes where the TBCB framework is deployed for selection of the developer/transmission service provider (TSP).
Imminent awards
According to information available with T&D India, PFCCL has shortlisted bidders for at least two ISTS-TBCB schemes, incorporated under project SPVs “Kandla GHA Transmission Ltd” and “NER Expansion Transmission Ltd.” In FY25, PFCCL transferred 19 ISTS-TBCB to winning developers whereas RECPDCL had a higher share of 26 schemes, making a total of 45 ISTS-TBCB schemes handed over in FY25. (Read T&D India’s exclusive ISTS-TBCB: FY25 report)
Also read: PFCCL empanels ten AMISPs for smart metering projects under RDSS
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