New Delhi: State-owned Power Finance Corporation Limited (PFC) said in a regulatory filing on Thursday that its wholly-owned subsidiary, PFC Consulting Limited has been nominated as the 'Bid Processor Coordinator' for selecting developers through a tariff-based competitive process for independent transmission projects (ITPs) by Ministry of Power.
As per the guidelines issued by the Ministry, the filing said, the BPC has to prepare a project profile and initiate the process for land acquisition and forest clearances, if required. The filing also noted that for carrying out such activities, a special purpose vehicle (SPV) should be incorporated which will focus on undertaking preliminary activities like survey and preparation of the report, initiating land acquisition, and seeking forest clearances.
The SPV will then be transferred to the successful bidder via International Competitive Bidding Process as per the guidelines issued by the Ministry of Power, the BSE filing said.
Further, the filing highlighted that UP-Power Transmission Corporation Limited (UPPTCL) placed a Letter of Intent (LoI) for appointing PFC Consulting Limited to be BPC as Transmission Service Provider to establish transmission system for construction of 220/132/33 kV Tirwa (Kannauj) substation with associated lines and LILO of one circuit of 400 kV D/C (Twin Moose) Shamli Aligarh line at THDC 2*660 MW Khurja Power Plant. For this project, the successful bidder will be selected through a bidding process, it said.