Power Finance Corporation Ltd. (PFC) has announced the incorporation of a new wholly-owned subsidiary, Rundh Gidawara Transmission Limited. This Special Purpose Vehicle (SPV) has been established to develop the 765 kV GSS Rundh Gidawara (Alwar) along with its associated transmission system. The SPV will be transferred to the successful bidder selected through the tariff-based competitive bidding process, as per Ministry of Power, Government of India guidelines.
New Subsidiary for Transmission Development
Power Finance Corporation Ltd. (PFC), a Maharatna company, has officially incorporated a new wholly-owned subsidiary named Rundh Gidawara Transmission Limited. This incorporation is a significant step towards developing key infrastructure projects, specifically focusing on the transmission sector.
Project Focus and Purpose
The newly formed entity, Rundh Gidawara Transmission Limited, will be responsible for the development of the 765 kV GSS Rundh Gidawara (Alwar) project, which includes its associated transmission system. This initiative aligns with PFC’s role in facilitating the expansion of the nation’s power transmission network.
Role of PFC Consulting Limited
PFC Consulting Limited, itself a wholly owned subsidiary of PFC, has been nominated as the ‘Bid Process Coordinator’ (BPC) by the Ministry of Power. The BPC’s mandate is to oversee the selection of a developer through a tariff-based competitive bidding process for Independent Transmission Projects (ITPs). As part of this process, the BPC is required to prepare project profiles and initiate land acquisition and forest clearance procedures, necessitating the creation of SPVs like Rundh Gidawara Transmission Limited.
SPV Transfer to Successful Bidder
As per the established guidelines, the incorporated SPV is slated to be transferred to the Successful Bidder who emerges from the international competitive bidding process. This ensures that the project development is efficiently handed over to the chosen entity following the completion of the bidding and selection phases.
Rajasthan State Government Appointment
The Rajasthan State Government, in exercise of powers conferred by the Guidelines for Tariff Based Competitive Bidding (TBCB) for Transmission Service, appointed M/s PFC Consulting Limited as the Bid Process Coordinator (BPC) for the development of an Intra-State Transmission Project in Rajasthan. This appointment was made vide notification No. F.12(12) Energy/2021/00865/7791575 dated May 26, 2026.
Letter of Intent and Committee Recommendation
This strategic move was further supported by a Letter of Intent received from the Office of The Chief Engineer (PP&D), Rajasthan Rajya Vidyut Prasaran Nigam, Jaipur. The decision was taken following the recommendation of the State Committee on Transmission (SCT) in its 10th meeting held on August 29, 2025, which advised the Government of Rajasthan to appoint PFC Consulting Limited as the BPC.
Confirmation of Approval
The Energy Department, Government of Rajasthan, conveyed its approval for the aforementioned decision on October 15, 2025, endorsing the role of PFC Consulting Limited in facilitating this vital transmission project.
Conclusion
The incorporation of Rundh Gidawara Transmission Limited marks a crucial step in the development pipeline for this important transmission asset, paving the way for its eventual transfer to a successful bidder upon project completion.
Source: BSE
