The acquisition of SPV Gadag II and Koppal II Transmission Limited under the tariff-based competitive bidding (TBCB) system for INR 1,354 crore will facilitate the evacuation of power from renewable energy (RE) generation projects in Karnataka.

Jan 20, 2025

PFC Consulting Limited, a wholly-owned subsidiary of Power Finance Corporation Limited, has transferred its Special Purpose Vehicle (SPV) Gadag II and Koppal II Transmission Limited to the Power Grid Corporation of India (PGCIL).

As per POWERGRID, the acquisition of SPV Gadag II and Koppal II Transmission Limited under the tariff-based competitive bidding (TBCB) system for INR 1,354 crore would facilitate the evacuation of power from RE generation projects in Karnataka.

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The leading electric power transmission utility said the ‘System Strengthening at Koppal-II and Gadag-II for integration of RE generation projects’ included establishment of a 400 kV line between Koppal-II and Gadag-II traversing Karnataka, as well as augmentation of under construction substations of Koppal-II and Gadag-II.

PFC Consulting Limited said it also transferred another of its wholly-owned subsidiaries, Bijapur REZ Transmission Limited, to Gujarat-based GR Infraprojects Limited for INR 111.40 crore. The project involved development of ‘Transmission Scheme for integration of Bijapur REZ in Karnataka’.

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The transfer of these subsidiaries aligned with the intention to facilitate renewable energy integration through efficient transmission infrastructure development. It also marked a significant step in achieving enhanced connectivity for renewable energy projects in Karnataka, the firm said in a regulatory filing.