Power Grid Corp announced on Thursday that PFC Consulting Ltd. had sold it two project special purpose vehicles.
According to a business release, the two SPVs are Beawar-Mandsaur Transmission Ltd. and Sirohi Transmission Ltd.
Sirohi Transmission will put into place a system that includes building a new 765/400 kV substation close to Sirohi in Rajasthan, as well as extending the corresponding bays at the state’s current substation and installing 765 kV and 400 kV D/C transmission lines.
Beawar-Mandsaur Transmission is going to put into place a system that includes building a 765kV D/C transmission line and extending the bays at the current sub-stations in Rajasthan and Madhya Pradesh.
Within 24 months, both gearbox systems must be put into service.
The announcement states that PFC Consulting Ltd (PFCCL), which carried out a tariff-based competitive bidding, is the coordinator of the bid process for the two SPVs.
POWERGRID is carrying out gearbox system projects that are being built on a build, own, operate and transfer (BOOT) basis through its many project SPVs.
These projects will support the government’s goal of 500 GW of renewable energy by 2030 by improving India’s transmission infrastructure to move green energy to the National Grid and lessen reliance on fossil fuels.