Bid process coordinator PFC Consulting Ltd (PFCCL) has incorporated a wholly-owned subsidiary that will act as a special purpose vehicle to house India’s first interstate-TBCB scheme purely dedicated to installation of synchronous condenser (SynCon) units.
In a brief regulatory filing dated May 7, 2026 by parent company Power Finance Corporation Ltd (PFC), it was announced that PFCCL has incorporated “Fatehgarh II Transmission Ltd” to house the ISTS-TBCB scheme formally termed as “Installation of two synchronous condensers (SynCon) units at 765/400/200kV Fatehgarh-II Pooling Station (PS)”
As discussed in a tndindia.com story dated February 12, 2026, PFCCL had initiated bidding for the scheme, which is significant for being India’s first transmission scheme dedicated purely for installation of SynCon units. As such, there will be no conventional infrastructure addition – transmission lines or transformation capacity – arising out of this scheme.
According to information available with tndindia.com, the bidder selection process for the Fatehgarh II scheme is underway, and the last date for submission of technical and financial bids currently stands at May 18, 2026.
The bid submission date has been extended on at least two occasions from the original April 17, 2026.
Second “qualitative” scheme
According to information available with tndindia.com, the Fatehgarh-II scheme under discussion would be only the second ISTS-TBCB scheme that is addressing a “qualitative” aspect, without creating additional conventional transmission infrastructure.
Powergrid Khavda PS1 and 3 Transmission Ltd, a TBCB subsidiary of Power Grid Corporation of India Ltd (PGCIL), is implementing an ISTS scheme envisaging installation of three STATCOM (static synchronous compensator) units at the Khavda Pooling Stations-1 and 3 (KPS1 and KPS3) in Gujarat.
This Rs.501-crore project, acquired by PGCIL in November 2024, is currently under implementation and scheduled to complete by November 2026.
The objective of both SynCon and STATCOM units is to provide reactive compensation. However, SynCon units have “real” inertia while STATCOM units don’t. (For a technical discussion on SynCon vs STATCOM, please refer to tndindia.com story dated October 13, 2025)
Also read: PFC Consulting incorporates four SPVs for intrastate-TBCB schemes
Featured photograph (source: ansaldoenergia.com) is purely for representation