PFC Consulting Limited (PFCCL) has transferred Fatehgarh II Transmission Limited, the project-specific special purpose vehicle (SPV) for India’s first tariff-based competitive bidding (TBCB) scheme involving purely the installation of synchronous condensers, to Power Grid Corporation of India Limited (POWERGRID).
The SPV will develop the ISTS project, “Installation of 2 Nos. of Synchronous Condensers (SynCon) units at 765/400/220 kV Fatehgarh-II PS”, on a build, own, operate and transfer basis. The project involves installation and commissioning of two synchronous condenser units at the Fatehgarh-II pooling station, along with associated bays.