CERC awards transmission licence to PGCIL’s Rajasthan subsidiary
Power Finance Corporation established five special purpose vehicles (SPVs) as wholly-owned subsidiaries of PFC Consulting in May 2020. Bhadla Sikar Transmission, Sikar-II Aligarh Transmission, Khetri-Narela Transmission, Bikaner-II Bhiwadi Transco, and Ananthapuram Kurnool Transmission were among the five SPVs involved.
The first four were originally built to strengthen transmission systems for the evacuation of power from solar energy zones in Rajasthan during the second phase (Parts E, G, D, and F) of their respective transmission programmes (8.1 GW each). The Ananthapuram Kurnool Transmission Limited was established to develop transmission systems in Ananthapur (2.5 GW) and Kurnool (2.5 GW) in Andhra Pradesh (1 GW).
Power Finance Corporation Consulting, the bid process coordinator, held competitive bidding, with PGCIL emerging as the winning bidder with the lowest Levelized transmission charges of Rs 1.4 billion per year.
The SPV Bikaner-II Bhiwadi Transco was handed over to PGCIL to complete the project. The project will be completed 18 months after the effective date or in June 2022, whichever comes first.
The CERC also directed the CEA to monitor project execution and notify the Commission if the licensee fails to meet the schedule, so that the Commission can take appropriate action in accordance with the act and transmission licence regulations.
As part of the transmission strengthening program's Phase II, Part-B, and C, PGCIL purchased two transmission projects – Fatehgarh Bhadla Transco Limited and Sikar New Transmission Limited – last month. 8.1 GW of electricity will be diverted from Rajasthan's solar energy zones as a result of each project.
CERC granted Powergrid Bhuj Transmission Limited, a subsidiary of PGCIL, a transmission licence to build transmission systems for 2 GW of renewable energy projects in Gujarat in March 2020.
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