PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation (PFC), has invited bids to develop an interstate transmission system (ISTS) to evacuate 7 GW of power from the Khavda Renewable Energy Park under Phase-III, Part A.

The transmission projects will be developed on a build, own, operate, and transfer basis.

The last date to submit the bids online is July 18, 2023. Bids will be opened on the same day.

Within ten days of the letter of intent, the selected bidder, on behalf of the transmission service provider, must submit ₹500 million (~$6.07 million) to the nodal agency as a contract performance guarantee.

The project must be commissioned within 24 months of signing the transmission service agreement.

The objective of the bidding process is to select a successful bidder who will acquire 100% of the equity shares of the special purpose vehicle (SPV) along with all its related assets and liabilities as per the provisions of the share purchase agreement.

Bidders should have experience developing projects in the infrastructure sector in the last five years with an aggregate capital expenditure of not less than ₹10 billion (~$121.37 million). However, the capital expenditure of each project should not be less than ₹2 billion (~$24.27 million).

Alternatively, the successful bidder should have received aggregate payments of not less than ₹10 billion (~$121.37 million) from its clients for construction works fully completed during the last five years. However, the payment received from each project should not be less than ₹2 billion (~$24.27 million).

Bidders should have a net worth of not less than ₹4 billion (~$48.54 million) based on any of the last three financial years. The net worth in any of the previous three financial years should not be negative.

Last month, PFC Consulting invited bids to build an ISTS for the evacuation of power from Rajasthan renewable energy zones on a build, own, operate, and transfer basis. The zones are Ph-IV (Part- 1) (Bikaner Complex): PART-C and PART-D.

Earlier, PFC Consulting had invited bids to set up ISTS projects under the Western Region Expansion Program (WRES-XXVII) on a build, own, operate, and transfer basis. The scope of work included the establishment, operation, and maintenance of the projects.

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