Bid process coordinator PFC Consulting Ltd has announced the incorporation of a new wholly-owned subsidiary “Raghnesda RE Transmission Ltd” that will act as a project special purpose vehicle for development of an ISTS scheme.
The ISTS scheme is termed as “Transmission System for evacuation of power from Raghanesda area of Gujarat – 3GW (Phase I)” and is currently bidding. As per current timelines, the last date for submission of technical and price bids is December 9, 2024.
The said SPV will be transferred to the successful bidder to be selected under the tariff-based competitive bidding mechanism.
Recent SPVs
According to information available with T&D India, PFCCL has, in the past few weeks, incorporated five other wholly-owned subsidiaries for development of as many ISTS-TBCB schemes. These are:
SPV: Kurnool III PS RE Transmission Ltd
Scheme: Transmission system for strengthening at Kurnool III PS for integration of additional RE generation projects
SPV: NER Expansion Transmission Ltd
Scheme: North-Eastern Region Expansion Scheme – XXV Part-A (NERES-XXV Part-A)
SPV: MEL Transmission Ltd
Scheme: Transmission system for evacuation of power from Mahan Energen Ltd generation station in Madhya Pradesh
SPV: Bhuj ICT Transmission Ltd
Scheme: Provision of ICT augmentation and bus reactor at Bhuj-II PS
SPV: Kandla GHA Transmission Ltd
Scheme: Transmission system for supply of power to Green hydrogen/ammonia manufacturing potential in Kandla area of Gujarat (Phase-I: 3 GW)
Pending SPVs
T&D India estimates that there are three ISTS-TBCB schemes, currently under bidding with PFCCL as the bid process coordinator, for which the project SPV is pending incorporation. These are:
- Augmentation at Fatehgarh-II PS, Fatehgarh-IV PS (Section-II) and Barmer-I PS
- Transmission system for supply of power to Green hydrogen/ammonia manufacturing potential in Mundra area of Gujarat under Phase-I: Part B1 scheme (3 GW at Navinal substation)
- Transmission system for integration of Anantapur-II REZ – Phase-I (for 4.5 GW)
As far as the only other bid process coordinator REC Power Development & Consultancy Ltd is concerned, it is estimated that there are no ISTS-TBCB schemes for which the project SPV has not been incorporated, as per T&D India estimates.
Also read: Project SPV formed for HVDC-based ISTS scheme in Gujarat
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