NEW DELHI — In a move to bolster India’s power transmission infrastructure, Power Finance Corporation (PFC) has announced the incorporation of a new Special Purpose Vehicle (SPV) named Fatehgarh II Transmission Limited.
Facilitating Critical Infrastructure
Established through PFC Consulting Limited, the SPV is designed to oversee the development of a major transmission project at the Fatehgarh-II power station. The project centers on the installation of two Synchronous Condenser (SynCon) units, which are vital for maintaining grid stability and voltage regulation.
Role and Bidding Process
As the designated Bid Process Coordinator (BPC), PFC Consulting will use this SPV to handle all preliminary groundwork, including:
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Conducting technical surveys and project reports.
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Managing land acquisition and environmental clearances.
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Facilitating the Tariff-Based Competitive Bidding (TBCB) process to select a private developer.
Future Transition
Following the completion of an international competitive bidding process, the SPV will be transferred to the successful bidder, who will then be responsible for the full execution and operation of the project. This initiative follows recommendations from the National Committee on Transmission to strengthen the grid amid India’s evolving energy needs.
