Power Grid Corporation of India Ltd (PGCIL) has won two more interstate transmission systems (ISTS) schemes, under the tariff-based competitive bidding (TBCB) mechanism.
PFC Consulting Ltd (PFCCL), the bid process coordinator for both the schemes, has formally transferred the project SPVs to PGCIL, the successful developer.
In a stock exchange communication, Power Finance Corporation Ltd, the holding company of PFCCL, said that the two project SPVs, incorporated as wholly-owned subsidiaries of PFCCL, have been transferred to PGCIL, on September 27, 2023.
The first SPV “Ananthapuram Kurnool Transmission Ltd” will be entrusted with the project termed as “Transmission Scheme associated with “Transmission scheme for Solar Energy Zone in Ananthpuram (Ananthapur) (2,500 mw) and Kurnool (1,000 mw), Andhra Pradesh.
The second SPV “Bhadla III Transmission Ltd” was formed for development of “Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III – Part-Bl”
Both the project SPVs will now cease to be subsidiaries of PFCCL.
Also read: PGCIL Clinches Another ISTS Scheme In Rajasthan
Earlier wins
In September 2023 itself, PGCIL announced that it was named successful bidder in at least two ISTS schemes – both in Rajasthan. The two project SPVs in question were “Ramgarh II Transmission Ltd” and “Beawar Dausa Transmission Ltd”. Both the projects are part of evacuation of 20 GW of renewable energy from renewable energy zones (REZ) in Rajasthan, under Phase III. While Ramgarh II will be dealing with Part C1 of the project, Beawar Dausa concerns Part H.
