Author: PPD Team Date: 21/04/2025
PFC Consulting Ltd (PFCCL) has incorporated three wholly-owned subsidiaries to act as special purpose vehicles (SPVs) for upcoming interstate transmission system (ISTS) projects. These schemes are being developed under the tariff-based competitive bidding (TBCB) framework.
Each SPV will be transferred to the selected transmission service provider after the bidding process. All three projects aim to improve grid connectivity and support renewable energy (RE) integration.
The first project, “Augmentation of transformation capacity and implementation of line bays at Mandsaur substation for RE interconnection”, is located in Madhya Pradesh. The SPV for this scheme is Mandsaur I RE Transmission Ltd. The estimated cost is Rs 3.18 billion, with a gestation period of 18 months. Developer selection is in progress.
The second project, “Interregional (NR-WR) transmission system strengthening to relieve the loading of 765kV Vindhyachal–Varanasi D/C line”, spans Uttar Pradesh and Madhya Pradesh. The SPV is Vindhyachal Varanasi Transmission Ltd. The estimated cost is Rs 23.68 billion, and the project is expected to be completed in 24 months. Bidding is ongoing.
The third project, “Transmission System for evacuation of power from RE projects in Morena SEZ in Madhya Pradesh–Phase I (2500 MW)”, will support RE evacuation from the Morena SEZ. The SPV is Morena I SEZ Transmission Ltd. The scheme has an estimated cost of Rs 16.92 billion and a gestation period of 27 months. Developer selection is underway.