Bid process coordinator PFC Consulting Ltd (PFCCL) has newly incorporated a wholly-owned subsidiary for development of the Satara interstate-TBCB scheme, currently under bidding.
In a stock exchange filing by Power Finance Corporation Ltd (PFC), the holding company of PFCCL, it was stated that PFCCL has incorporated “Satara Power Transmission Ltd” as its wholly-owned subsidiary.
This newly-incorporated entity will act as a project special purpose vehicle (SPV) for development of an interstate-TBCB scheme in Maharashtra, termed as “Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4500 MW) – Part A.”
This project SPV will be formally transferred to the winning developer, selected under the tariff-based competitive bidding (TBCB) framework.
Developer selection for Satara scheme was initiated in May 2026 and going by the current timelines, the last date for submission of technical and financial bids is July 17, 2026. This date has seen at least three extensions so far, from the original July 3, 2026.
Project background
A potential of more than 10 GW is available for pumped storage projects (PSP) in the Satara region of Maharashtra. Further, applications for integration of PSP to the tune of 3.6 GW have already been received.
In view of this, the National Committee on Transmission (NCT), in its meeting of February 2026, approved the Satara PSP scheme under discussion. This scheme will be implemented in two phases with a completion timeframe of 30 months and 36 months, respectively.
Located largely in Maharashtra and partly in Karnataka, this project may also be construed as an interregional scheme as it aims to facilitate an additional 765kV corridor between the Southern Region (SR) and Western Region (WR) grids. This corridor, Narendra – Kolhapur – Satara – Pune-III/Pune (East), will enable additional evacuation of RE power in Karnataka towards load centres and PSP projects in Satara, Pune and MMR (Mumbai Metropolitan Region) of Maharashtra.
The scheme envisages a new 765/400kV Satara substation in Maharashtra, equipped with 3×1500 MVA interconnecting transformers (ICT). The existing Kolhapur GIS substation of PGCIL will see creation of 765kV level through 2×1500 MVA, 765/400kV ICTs. There will be a LILO of both circuits of the 765kV Pune-III – Pune (East) double-circuit line at Satara, with a total length of 260 ckm.
The Pune-III substation is being developed through an interstate-TBCB scheme of Adani Energy Solutions Ltd, while the Pune (East) substation is part of an intrastate-TBCB scheme of PGCIL in Maharashtra. The Narendra substation in Karnataka and the Kolhapur substation in Maharashtra are existing installations, owned by PGCIL.
The aforementioned infrastructure will constitute Phase-I of the overall Satara scheme, and is envisaged for completion by March 31, 2029, subject to a minimum 30-month availability of implementation time. Phase-I will facilitate 1.8 GW of power transfer.
Under Phase-II, with cumulative capacity of 4.5 GW, a 765kV double-circuit line of 300 ckm will be erected, connecting the Kolhapur and Satara substations. The Satara substation will also be augmented by 765/400kV, 1×1500 MVA. Besides, the existing 400kV Narendra-Kolhapur line of PGCIL will be reoriented to enable charging up to 765kV.
More project details are available in this tndindia.com story dated March 23, 2026
Featured photograph is for representation only