PFC Consulting Forms 3 SPVs for Transmission Projects

New Delhi, Apr 17 (PTI) State-owned PFC on Thursday said its subsidiary PFC Consulting Limited (PFCCL) has incorporated three special purpose vehicles (SPVs) companies to undertake transmission projects.

Mansaur I RE Transmission Ltd has been incorporated for the augmentation of transformation capacity and implementation of line bays at Mandsaur for renewable energy interconnection.

Vindhyachal Varanasi Transmission has been incorporated for the development of inter-regional (northern region-western region) transmission system strengthening to relieve the loading of 765 kV (kilovolt) Vindhyachal-Varanasi direct current line.

PFCCL has incorporated another Morena I SEZ Transmission Ltd. for the development of a transmission system for the evacuation of power from RE projects in Morena SEZ in Madhya Pradesh-Phase I (2500 MW).

These SPVs will be transferred to the successful bidders after the completion of the bidding process. The successful bidders selected through the bidding process would develop the project.

The Ministry of Power has appointed PFCCL as the bid process coordinator (BPC) for the purpose of selecting the bidder as a transmission service provider (TSP) to establish the above-mentioned transmission system through a tariff-based competitive bidding process.

The SPV has to be transferred to the successful bidder selected through the International Competitive Bidding Process under Tariff Competitive Bidding Guidelines for Transmission Service issued by the power ministry.