Power Grid Corporation of India Ltd (PGCIL) has won India’s first ISTS-TBCB scheme purely dedicated to installation of synchronous condensers (SynCon).
In a brief regulatory filing, PGCIL said that it has been selected as the winning developer for the interstate transmission system (ISTS) scheme termed as “Installation of 2 nos. of synchronous condensers (SynCon) units at 765/400/220kV Fatehgarh-II PS” in Rajasthan’s Jaisalmer district.
PGCIL received the letter of intent for this project on January 17, 2026. The project involves installation and commissioning of two synchronous condensers, along with associated bays, at the Fatehgarh-II Pooling Station (PS), the filing added.
As exclusively reported by tndindia.com on July 14, 2026, PGCIL was amongst four bidders shortlisted by bid process coordinator PFC Consulting Ltd (PFCCL) for developing the project that is currently housed under “Fatehgarh II Transmission Ltd,” a wholly-owned subsidiary of PFCCL. It may also be noted that the Fatehgarh-II PS where installation of SynCons are being envisaged is owned by PGCIL.
Eventful month for PGCIL
For PGCIL, the month of July 2026 has been very eventful with respect to the Central PSU’s success rate in the ISTS-TBCB market. The Fatehgarh-II SynCon scheme under discussion is the third ISTS-TBCB win for PGCIL in July 2026 so far (July 1, 2026 to July 17, 2026).
Earlier in the month, PGCIL received the letters of intent for two ISTS-TBCB schemes – Bhadla Ramgarh Power Transmission Ltd and Krishnagiri REZ Transmission Ltd.
These three schemes would add to an equal number of ISTS-TBCB wins in FY27 so far where PGCIL has formally acquired the project SPV. As reported in tndindia.com’s exclusive report dated July 6, 2026, PGCIL led the ISTS-TBCB market in Q1FY27, in terms of both number of schemes transferred and the associated transmission tariff.
Cumulative Status
According to an analysis by tndindia.com, in FY27 so far (up to July 17, 2026), a total of 11 ISTS-TBCB schemes have been formally transferred to winning developers or are close to that stage. The broad status is as follows:
- Project SPV transferred: 6 (PGCIL: 3, DRAIPL: 1; HGIEL: 1; Resonia:1)
- LoIs issued but SPV transfer pending: 3 (PGCIL: 3)
- L1 declared but issuance of LoI pending: 2 (Adani Energy: 1, Apraava:1)
Readers seeking more details on the aforementioned 11 ISTS-TBCB cases may write in to editor@tndindia.com
Featured photograph (source: Wartsila) is for representation only