Power Finance Corporation (PFC), through its subsidiary PFC Consulting, has issued a tender for selecting a transmission service provider to establish an inter-state transmission system (ISTS) for evacuating 3 GW of renewable energy from Raghanesda, Gujarat under Phase I. The last date for bid submission is November 19, 2024.
Bidders are required to submit an earnest money deposit of Rs 176 million, with the project expected to start commercial operations within 24 months. The 765/400 kV Raghanesda Gas Insulated Substation (GIS) will facilitate the evacuation of 3 GW capacity to Banaskantha, featuring 3×1500 MVA Interconnecting Transformers (ICTs) and a 765 kV double circuit transmission line.
Eligible bidders must have a positive net worth exceeding Rs 3.52 million and experience in developing infrastructure projects costing Rs 8.8 billion or receiving payments of at least Rs 8.8 billion for completed projects in the last five years. The selected bidder will also need to obtain a transmission license from the state regulatory commission.
In recent developments, PFC signed a Rs 18.69 billion term loan agreement with Chenab Valley Power Project Private Limited (CVPPPL) in June 2024. Additionally, PFC partnered with the Council on Energy, Environment, and Water to support India’s net-zero goal by 2070.