PFC transfers Angul Sundargarh transmission project to HG Infra
Author: PPD Team Date: July 31, 2025
Power Finance Corporation Ltd (PFC) has transferred its subsidiary, Angul Sundargarh Transmission Ltd, to HG Infra Engineering Ltd. Angul Sundargarh Transmission Ltd is a special purpose vehicle (SPV) for the Eastern Region Generation Scheme-I (ERGS-I), a central transmission project.
The handover was completed on July 28, 2025, under a signed Share Purchase Agreement.
The selection was based on tariff-based competitive bidding. HG Infra emerged as the lowest bidder (L-1) by quoting Rs 431.11 million annually in transmission charges. Competing bids came from two other firms, Rs 890 million and Rs 950 million, respectively.
Earlier, on June 9, 2025, PFC Consulting Ltd shortlisted Power Grid Corporation of India Ltd, Tata Power Company Ltd, and HG Infra Engineering Ltd after evaluating technical qualifications.
This project had been re-bid following a previous round of limited competition. The scheme involves looping in both circuits of the 765 kV Angul-Sundargarh lines into NLC India Ltd’s Talabira plant in Odisha. The estimated cost is Rs 413 crore, with a completion target of March 2028.
The initial bidding process began in April 2024 but saw repeated extensions, ending in October 2024. Re-bidding was initiated after reports indicated that only two players had qualified for opening of price bids, potentially resulting in a single-bid scenario during the reverse auction.
