PFC Consulting Ltd (PFCCL) has incorporated three project special purpose vehicles (SPV) for the development of as many interstate transmission system (ISTS) schemes, under the tariff-based competitive bidding (TBCB) mechanism.
In a stock exchange filing, Power Finance Corporation, the holding company of PFCCL, said that PFCCL has incorporated three project SPVs for the development of three ISTS-TBCB schemes.
These SPVs are currently wholly-owned subsidiaries of PFCCL and will be transferred to the successful developer selected under the TBCB modality.
The three SPVs and the underlying projects are:
SPV: Chitradurga Bellary REZ Transmission Ltd
Project: Transmission Scheme for integration of Davanagere/Chitradurga REZ and Bellary REZ in Karnataka
SPV: Bijapur REZ Transmission Ltd
Project: Transmission Scheme for integration of Bijapur REZ in Karnataka
SPV: Kudankulam ISTS Transmission Ltd
Project: Transmission System under ISTS for evacuation of power from Kudankulam Unit – 3 & 4 (2×1000 MW)
According to information available with T&D India, PFCCL has already begun the bidding process for all the three schemes discussed above.
In the case of the ISTS scheme housed under “Bijapur REZ Transmission Ltd,” PFCCL was scheduled to host a pre-bid meeting on June 28, 2024 that has now been postponed till further notice. More details on the “Kudankulam ISTS Transmission Ltd” scheme can be found in T&D India’s report of June 10, 2024.
(Note: REZ stands for “Renewable Energy Zone”)
Also read: PFCCL Incorporates SPVs For Two ISTS Schemes
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