A project special purpose vehicle has been incorporated for the development of an intrastate power transmission scheme in Uttar Pradesh, under the tariff-based competitive bidding (TBCB) mechanism.
Bid process coordinator PFC Consulting Ltd (PFCCL) has incorporated a project SPV named “Jewar Transmission Ltd” to develop an intrastate transmission scheme in Uttar Pradesh, under the TBCB modality. The project SPV has been formed as a wholly-owned subsidiary of PFCCL, in turn a wholly-owned subsidiary of Power Finance Corporation Ltd.
The project is officially termed as: “Construction of 400/220 kV, 2×500 MVA GIS Substation Jewar, 220/33kV; 2×60 MVA GIS substation Cantt (Chaukaghat) Varanasi; 220/33kV, 3×60 MVA GIS substation Vasundhara (Ghaziabad); 220/132/33kV, 2×160+2×40 MVA Substation Khaga (Fatehpur) with associated lines.”
The project SPV will be transferred to the successful bidder that will be selected using the TBCB route.
According to information available with T&D India, PFCCL has extended the deadline for submission of RfP bids (both technical and financial) for the incumbent developer, to July 28, 2023, from the earlier date of July 7, 2023.
Meanwhile, PFFCL is in the process of appointing a technical consultant for carrying out survey and preparing the project report. It is further learnt that two contenders – Prasad Surveyors and GIS Data Solutions — are in the fray.
Project Scope
The overall project involves construction of four substations and associated lines, and is scheduled for completion in 18 months from handing over the project SPV “Jewar Transmission Ltd” to the successful developer.
Three of the four substations – Jewar (Gautam Budh Nagar), Cantonment Chaukaghat (Varanasi), Vasundhara (Ghaziabad) – will be of the GIS type, while the fourth – at Khaga (Fatehpur) will be an AIS substation.
TBCB schemes in Uttar Pradesh
In the past four years or so, Uttar Pradesh has embarked on at least six intrastate power transmission schemes, using the TBCB route. While Power Grid Corporation of India Ltd (PGCIL) has clinched four, two have gone to Adani Transmission. The project SPVs of these six transmission schemes are:
PGCIL
- Powergrid Meerut Simbhaoli Transmission Ltd
- Powergrid Jawaharpur Firozabad Transmission Ltd
- Powergrid Rampur Sambhal Transmission Ltd
- Powergrid Gomti Yamuna Transmission Ltd
Adani Group
- Obra-C Badaun Transmission Ltd
- Ghatampur Transmission Ltd
It may be noted that “Powergrid Gomti Yamuna Transmission Ltd“ at the time of incorporation by the bid process coordinator was known as “Mohanlalganj Transmission Ltd”. The other three project SPVs under the PGCIL header were originally named without the “Powergrid” prefix.
Adani Group commissioned the Ghatampur project in FY22, while the Obra-C Badaun project was completed in FY23.
Also read: SPV Incorporated For ISTS Scheme In Madhya Pradesh
SEUPPTCL
It may be mentioned that way back in September 2009, Uttar Pradesh Power Transmission Company Ltd had initiated the PPP culture in developing its intrastate transmission network. Accordingly a major transmission scheme, involving 765kV infrastructure and housed under “South East UP Power Transmission Company Ltd” (SEUPPTCL), was awarded to a Spanish developer Isolux Corsan. After having commissioned one part of the scheme in July 2017, the Spanish company turned bankrupt. In September 2022, Resurgent Power, in which Tata Power is a stakeholder, completed the acquisition of SEUPPTCL.
Featured photograph (source: Linxon) is for representation only.
