Three project special purpose vehicles (SPVs) have been newly incorporated for the development of as many interstate transmission system (ISTS) schemes, the developers for which will be selected using the tariff-based competitive bidding (TBCB) mechanism.
Bid process coordinators REC Power Development & Consultancy Ltd (RECPDCL) and PFC Consulting Ltd (PFCCL), in independent communications, have announced the incorporation of the three project SPVs. Here are basic details:
These SPVs have been formed as wholly-owned subsidiaries of the respective BPCs. RECPDCL and PFCCL have been nominated as bid process coordinators (BPC) for their respective schemes. They will proceed to select the developer for these projects using the TBCB mechanism. Upon completion of the selection process, these project SPVs will be transferred to the successful developers.
Pre-bidding activities
Apart from handling the bidding process, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required. For these activities, a Special Purpose Vehicle (SPY) is required to be incorporated which will take up various preparatory activities of the transmission projects e.g. survey and preparation of report, initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required.
Bidding process
According to information available with T&D India, of the three projects discussed above, bidding process for selecting developers is currently underway for two projects — Solapur Transmission Ltd and NERGS-I Power Transmission Ltd.
(Key to abbreviations used in table: TS = Transmission System; REZ = Renewable Energy Zone; SEZ = Solar Energy Zone; BPC = Bid process coordinator; SPV = Special Purpose Vehicle)
Featured photograph (source: ReNew Power) is for representation only.