Author: PPD Team Date: 16/10/2024
On October 15, 2024, PFC Consulting Ltd (PFCCL) transferred four special purpose vehicles (SPVs) for interstate transmission system (ISTS) projects to their winning developers, selected through tariff-based competitive bidding (TBCB). The projects were handed over to Power Grid Corporation of India Ltd (PGCIL) and Adani Energy Solutions Ltd (AESL), with each developer receiving two projects.
The SPVs, previously incorporated as PFCCL subsidiaries, were transferred as follows:
South Olpad Transmission Ltd (incorporated January 19, 2024), handling power evacuation from Gujarat’s Khavda RE zone (7 GW, Phase IV, Part B), was awarded to PGCIL. Estimated cost: Rs 47.66 billion.
Jam Khambhaliya Transmission Ltd (incorporated July 1, 2024), for capacity augmentation at Jam Khambhaliya PS (GIS), also went to PGCIL. Estimated cost: Rs 3.10 billion.
Jamnagar Transmission Ltd (incorporated February 6, 2024), for a 3.6 GW load drawal network in Jamnagar, was won by AESL. Estimated cost: Rs 38.15 billion.
Navinal Transmission Ltd (incorporated April 4, 2024), for power drawal in the Navinal (Mundra) area, was secured by AESL. Estimated cost: Rs 23.83 billion.
These projects, to be developed under a 35-year BOOT (Build, Own, Operate, Transfer) model, will significantly expand transmission infrastructure in Gujarat.