Power Finance Corporation (PFC), subsidiary PFC Consulting has issued a request for proposals (RFP) for the development of an interstate transmission system (ISTS) to transport 1,500 MW of electricity from renewable energy projects in Maharashtra’s Solapur special economic zone. According to the tender guidelines, the project will be built, owned, operated, and transferred before being transferred.
The winning bidder must give a contract performance guarantee of Rs 150 million to the gearbox service provider within ten days of the letter of intent being issued. The project must be completed within 24 months of signing the gearbox service agreement. The purpose of the bidding process is to select a winning bidder who will acquire 100 per cent of the equity shares of the special purpose vehicle as well as all of its connected assets and liabilities, in accordance with the terms of the share purchase agreement. Bidders must have experience developing projects in the infrastructure industry in order to be considered.The bid must be submitted online by August 28, 2023.
In May 2023, PFC Consulting requested proposals to design an interstate transmission system (ISTS) to evacuate 7 GW of power from the Khavda Renewable Energy Park. According to the tender guidelines, the transmission projects will be built, owned, operated, and transferred. Within ten days of the letter of intent, the successful bidder must submit Rs 500 million to the nodal agency as a contract performance guarantee.
Also, in April 2023, PFC sanctioned a loan of Rs 6.33 billion to Gensol Engineering Limited. The loan intends to purchase 5,000 passenger electric vehicles (EVs) and 1,000 cargo EVs. The passenger EVs will be leased to Blusmart Mobility Private Limited to expand its fleet of ride-hailing cabs.