The Power Finance Corporation (PFC), through its subsidiary PFC Consulting, has floated a tender for selection of a transmission service provider to establish an inter-state transmission system (ISTS). The service provider will be required to evacuate 3 GW of renewable energy from Raghanesda, Gujarat under Phase I. The last date of bid submission is November 19, 2024.
According to the tender guidelines, bidders have to submit an earnest money deposit of Rs 176 million. The project is scheduled to start commercial operations within 24 months. Currently, the 765/400 kV Raghanesda Gas Insulated Substation (GIS) is supposed to evacuate the 3 GW capacity from Raghanesda to Banaskantha. This substation will include 3×1500 MVA 765/400 kV Interconnecting Transformers (ICTs), along with a 765 kV double circuit transmission line connecting Raghanesda (GIS) to Banaskantha (PG).
Furthermore, the bidder must have a positive net worth more than Rs 3.52 million. The winning bidder will also need to obtain the required transmission licence from the state regulatory commission. To be eligible, the bidder should have developed infrastructure projects costing Rs 8.8 million or received total payments of at least Rs 8.8 billion for completed infrastructure projects, both within the last five years.
In June 2024, PFC signed an agreement with the Chenab Valley Power Project Private Limited (CVPPPL) for a term loan of Rs 18.69 billion. In February 2024, PFC Limited and the Council on Energy, Environment, and Water entered into a strategic partnership to propel PFC’s dedication to emerging as a premier net-zero financier, in accordance with India’s 2070 net zero goal.
