Bid process coordinator PFC Consulting Ltd (PFCCL) has transferred three project SPVs, incorporated for development of interstate transmission system (ISTS) schemes, to the respective winning bidders.
In a stock exchange filing, Power Finance Corporation, the holding company of PFCCL, said that the latter has transferred three project special purpose vehicles that PFCCL had incorporated as wholly-owned subsidiaries for the development of as many ISTS schemes, to successful bidders chosen under the tariff-based competitive bidding (TBCB) mechanism.
The transfer of all the three SPVs was completed on December 26, 2023.
Here are the details:
Project SPV: Halvad Transmission Ltd
Project: Transmission system for evacuation of additional 7 GW of RE power from Khavda RE Park under Phase III Part A
Successful bidder: Adani Energy Solutions Ltd
Project SPV: Koppal II Gadag II Transmission Ltd
Project: Transmission Scheme for Integration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-A & B) and Gadag-II (Phase-A) in Karnataka
Successful bidder: Power Grid Corporation of India Ltd
Project SPV: Vataman Transmission Ltd
Project: Transmission system for evacuation of additional 7 GW of RE power from Khavda RE park under Phase III Part B
Successful bidder: Power Grid Corporation of India Ltd (PGCIL)
The project SPVs, now transferred, cease to be subsidiaries of PFCCL.
(Please follow the hyperlinked project SPV name for more details on the respective projects.)