PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation (PFC), has invited bids to develop an interstate transmission system (ISTS) for integration of renewable energy zone (Phase-II) in Koppal-II (Phase A&B) and Gadag-II (Phase A) in Karnataka.

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

The last date to submit the bids online is July 17, 2023. Bids will be opened on the same day.

Within ten days of the letter of intent, the selected bidder must submit ₹1.26 billion (~$15.25 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 infrastructure projects in the last five years with an aggregate capital expenditure of not less than ₹25.2 billion (~$305.07 million). However, the capital expenditure of each project should not be less than ₹5.04 billion (~$61.01 million).

Alternatively, the successful entity should have received aggregate payments of not less than ₹25.2 billion (~$305.07 million) from its clients for construction works fully completed during the last five financial years. However, the payment received from each project should not be less than ₹5.04 billion (~$61.01 million).

Bidders should have a net worth of not less than ₹10.08 billion (~$122.03 million) based on any of the last three financial years. Also, the net worth in any of the previous three financial years should not be negative.

Within five working days of the issue of the acquisition of the SPV by the successful bidder, the transmission service provider should apply for the grant of the transmission license and make an application to the commission for the adoption of transmission charges.

Recently, PFC Consulting invited bids to develop an ISTS to evacuate 7 GW of power from the Khavda Renewable Energy Park under Phase-III, Part A.

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

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