PFCCL transfers two SPVs for transmission projects

PFC Consulting Ltd (PFCCL) has transferred two project Special Purpose Vehicles (SPVs) to their respective winning bidders for the development of interstate transmission system (ISTS) schemes. The SPVs transferred are:

• Gadag II & Koppal II Transmission Ltd to Power Grid Corporation of India Ltd
• Bijapur REZ Transmission Ltd to G R Infraprojects Ltd

Both SPVs, originally wholly-owned subsidiaries of PFCCL, will now be under the ownership of the winning developers chosen through the tariff-based competitive bidding (TBCB) route.

The transmission schemes to be developed are:

• Gadag II & Koppal II Transmission Ltd for developing System strengthening at Koppal-II and Gadag-II for integration of RE generation projects. Estimated project cost: Rs 13.54 billion. Completion is expected in 24 months.
• Bijapur REZ Transmission Ltd for developing Transmission scheme for integration of Bijapur REZ (renewable energy zone) in Karnataka. Estimated project cost: Rs 11.13 billion. Completion is expected in 24 months.