PFC Consulting forms SPV for 3 GW renewable power transmission in Gujarat

PFC Consulting Limited (PFCCL), a subsidiary of Power Finance Corporation (PFC), has incorporated a special purpose vehicle (SPV) named Raghanesda RE Transmission Limited. 

The SPV will oversee the development of the “Transmission System for evacuation of renewable energy power from the Raghanesda area of Gujarat – 3 GW under Phase-I.”

The project, with an estimated cost of Rs 18.55 billion, will be executed under the tariff-based competitive bidding (TBCB) process. 

PFCCL has been designated as the bid process coordinator (BPC) to select the transmission service provider (TSP). The scheme includes:

• Establishing a 3×1500 MVA, 765/400 kV gas-insulated substation (GIS) near Raghanesda with bus reactors (2×330 MVAR at 765 kV and 2×125 MVAR at 420 kV).
• Building a 95 km 765 kV double circuit (D/c) transmission line between Raghanesda (GIS) and Banaskantha (PG).
• Adding two 765 kV line bays at Banaskantha (PG) substation.

The scheme was approved by the Western Regional Power Committee (WRPC) in March 2024 and received clearance from the National Committee on Transmission (NCT) in June 2024, which recommended PFCCL as the BPC.