PFC Consulting Ltd (PFCCL) has incorporated a wholly-owned subsidiary that will act as a project special purpose vehicle (SPV) for the development of an interstate transmission system (ISTS) scheme in Gujarat.
According to a stock exchange filing by Power Finance Corporation (PFC), the holding company of PFC Consulting Ltd, the new entity “Halvad Transmission Ltd” will be entrusted with the development of an ISTS scheme officially termed as “Transmission system for evacuation of additional 7 GW of RE power from Khavda RE Park under Phase III Part A.”
PFCCL has been designated as the bid process coordinator (BPC) for the project. In this capacity, PFCCL will proceed to select the developer using the tariff-based bidding competitive (TBCB). The project SPV “Halvad Transmission Ltd” will then be transferred to the so-selected developer.
Project scope
According to information independently available but not contained in the PFC filing, the aforementioned scheme will have an implementation period of 24 months and is expected to cost around Rs.3,037 crore.
The major elements entailed by this transmission scheme would be:
- New 765kV switching station at Halvad, with 765kV, 2×330 MVAr reactors
- New 765kV double-circuit line from KPS2 (GIS) to Halvad (220 km)
- A 240 MVAr switchable line reactor on each circuit at both ends of #2
- Two 765kV GIS line bays at KPS2 (GIS) for termination of #2
- LILO of existing 765kV double-circuit Lakadia-Ahmedabad line at Halvad
Phase III, Part B
The overall project “Transmission system for evacuation of additional 7 GW of RE power from Khavda RE Park (Phase III)” has been divided into two parts. Alongside “Part A” discussed above, there is also “Part B” that will be developed under the TBCB route with PFC Consulting Ltd itself acting as the BPC.
This scheme termed as “Transmission system for evacuation of additional 7 GW of RE power from Khavda RE Park under Phase III Part B” is expected to cost around Rs.4,232 crore and will have an identical implementation timeframe of 24 months.
While PFCCL has not yet incorporated the project SPV for Part B, bidding for both Part A and Part B is currently underway.
Also read: PFCCL Incorporates Two SPVs For Interstate Transmission Schemes
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