Bid process coordinator PFC Consulting Ltd (PFCCL), on January 16, 2025, transferred two project SPVs incorporated for the development of interstate transmission system (ISTS) schemes, to their respective winning bidders.
In a stock exchange filing by Power Finance Corporation (PFC), the holding company of PFCCL, said that the following two SPVs were transferred:
SPV: Gadag II & Koppal II Transmission Ltd
Winning developer: Power Grid Corporation of India Ltd
SPV: Bijapur REZ Transmission Ltd
Winning developer: G R Infraprojects Ltd
Both these SPVs were incorporated as wholly-owned subsidiaries of PFCCL, and will now be under the ownership of the respective winning developers that were chosen under the tariff-based competitive bidding (TBCB) route.
The transmission schemes to be developed by these two SPVs, in respective order, are:
SPV: Gadag II & Koppal II Transmission Ltd
Scheme: System strengthening at Koppal-II and Gadag-II for integration of RE generation projects
Location: Karnataka
Project cost: Rs.1,354 crore (as estimated by NCT)
Gestation period: 24 months
Scope: Augmentation of transformation capacity at Koppal-II Pooling Station (PS) and Gadag-II PS, both in Karnataka
SPV: Biajpur REZ Transmission Ltd
Scheme: Transmission scheme for integration of Bijapur REZ (renewable energy zone)
Location: Karnataka
Project cost: Rs.1,113 crore (as estimated by NCT)
Gestation period: 24 months
Scope: Setting up of new Bijapur PS (400/220kV, 5×500 MVA) and 150-km 400kV double-circuit line from new Bijapur PS to Raichur (New) substation, both in Karnataka
As reported by T&D India on December 13, 2024, G R Infraprojects Ltd (GRIL) was issued the letter of intent for the Bijapur REZ project. GRIL won the project, quoting a tariff of Rs.1,077 million per year, getting the better of nine developers that were qualified based on initial price bids. The names of the developers making it to the final e-reverse auction stage are not yet known.
On December 13, 2024, T&D India also reported that PGCIL received the letter of intent for “Gadag II & Koppal II Transmission Ltd” as well as another ISTS-TBCB scheme incorporated under “Kunankulam ISTS Transmission Ltd.” The latter was formally transferred to PGCIL on January 10, 2025.
Featured photograph shows the handover of project SPV “Bijapur REZ Transmission Ltd” by by Rakesh Singh, CGM, PFCCL, to Saurabh Kaushik, Head (Business Development & Strategy), G R Infraprojects Ltd (GRIL) in the presence of senior officials of PFCCL, GRIL and Central Transmission Utility of India Ltd, on January 16, 2025.
