Power Grid acquires two project special purpose vehicles from PFCCL

Power Grid Corp on Thursday said it has acquired 2 project special purpose vehicles from PFC Consulting Ltd.

The two SPVs are Sirohi Transmission Ltd and Beawar-Mandsaur Transmission Ltd, a company statement said.

Sirohi Transmission shall implement a system comprising establishment of new 765/400 kV sub-station near Sirohi in Rajasthan, 765kV & 400kV D/C transmission lines and associated bays extension works at existing substation in the state.

Beawar-Mandsaur Transmission shall implement a system comprising establishment of 765kV D/C transmission line and associated bays extension works at existing sub-station in Rajasthan and Madhya Pradesh.

Both transmission systems are to be commissioned in 24 months.

According to the statement, the bid process coordinator for the two SPVs is PFC Consulting Ltd (PFCCL), which conducted a tariff-based competitive bidding.

POWERGRID, through its various project SPVs, is implementing transmission system projects being constructed on build, own, operate and transfer (BOOT) basis.

These projects will augment the Indian transmission infrastructure to evacuate green energy to the National Grid, thereby reducing dependency on fossil fuels, in line with the government's vision of achieving 500 GW renewable energy target by 2030.