REC Power Development & Consultancy Ltd (RECPDCL) has incorporated two wholly-owned subsidiaries that would act as project special purpose vehicles (SPVs) for interstate transmission system (ISTS) schemes in Gujarat.
In a stock exchange communication, REC Ltd, the holding company of RECPDCL, said that RECPDCL has incorporated the following two SPVs:
- Khavda IV C Power Transmission Ltd
- Khavda IV-E2 Power Transmission Ltd
Both the SPVs were incorporated on October 5, 2023. RECPDCL will be the bid process coordinator (BPC) and will be entrusted with the task of selecting the bidder for these schemes under the tariff-based competitive bidding (TBCB) route. Once the bidder is selected, these project SPVs, along with all assets and liabilities, will be transferred to the respective successful bidders.
The ISTS schemes that will be developed by these project SPVs, in respective order, are:
- Transmission system for evacuation of power from potential renewable energy zone in Khavda area of Gujarat under Phase IV (7 GW): Part C
- Transmission system for evacuation of power from potential renewable energy zone in Khavda area of Gujarat under Phase IV (7 GW): Part E2
According to information available with T&D India, “Part C” will be the larger of the two schemes with an estimated project outlay of Rs.5,340 crore, and an implementation timeframe of 24 months. It will involve, among various other elements, setting up of the 4×1500 MVA, 765/400kV and 2×500 MVA, 400/220kV Boisar-II GIS substation.
“Part E2”, with an estimated project outlay of Rs.697 crore, will have an implementation timeframe of 21 months. This project will involve augmentation of Khavda Pooling Station-2 (KPS2) in Gujarat, among other elements.
Also read: REC Incorporates Project SPV For ISTS Scheme In Maharashtra
Eight components, five under TBCB
It is reliably learnt that the overarching project to evacuate an additional 7 GW from Khavda RE zone in Gujarat, under “Phase IV” has eight components. Out of these five – Part A, Part B, Part C, Part D and Part E2 – will be developed under the TBCB route, while the remaining three – Part E1, Part E3 and Part E4 – will come up on RTM (regulated tariff mechanism) basis. Of the five TBCB components, RECPDCL has been entrusted as BPC for three – Part A, Part C and Part E2. PFC Consulting Ltd (PFCCL) will act as BPC for the remaining two – Part B and Part D. (See table)
Phase V
The overall power evacuation plan from Khavda RE zone also includes an additional 8 GW that would come under “Phase V” and would largely be an HVDC-based transmission system.
