Power Grid Corporation of India Ltd (PGCIL) has announced that it has formally acquired six project special purpose vehicles (SPVs) related to the development of interstate power transmission schemes, from the respective bid process coordinators (BPC).
In independent filings, PGCIL has said that it acquired the following project SPVs from the respective BPCs, on March 21, 2023.
- Khavda RE Transmission Ltd
- ERWR Power Transmission Ltd
- KPS2 Transmission Ltd
- Khavda II-B Transmission Ltd
- Khavda II-C Transmission Ltd
- KPS3 Transmission Ltd
Also read:PGCIL Wins Three More ISTS Projects In TBCB Mode
These SPVs were originally wholly-owned subsidiaries of the bid process coordinators and were incorporated for the development of interstate transmission system (ISTS) schemes, under the build, own, operate & transfer (BOOT) modality. PGCIL won these projects under the tariff-based competitive bidding route.
As per the standard practice, PGCIL will now approach Central Electricity Regulatory Commission (CERC) to seek a grant of a transmission license and adoption of transmission charges.
The project scope for #1 to #5 has already been discussed by T&D India in a separate story. Project #6 corresponding to “KPS3 Transmission Ltd” involves the establishment of Khavda Pooling Station-3 (KPS3) in Khavda Renewable Energy Park in Gujarat.
The gestation for the six projects discussed above ranges from 21 months to 24 months.