Power Finance Corporation (PFC) has announced that its wholly-owned subsidiary, PFC Consulting Limited (PFCCL), has incorporated a Special Purpose Vehicle (SPV) for a transmission project in Raigad, Maharashtra. Maharashtra State Electricity Transmission Company Limited (MSETCL) has appointed PFCCL as the Bid Process Coordinator (BPC) for selecting a developer for the 765/400/220 kV AIS Dolvi project. The project aims to establish a transmission system through tariff-based competitive bidding.
New Transmission Project Subsidiary
Power Finance Corporation (PFC) announced the incorporation of a wholly-owned subsidiary, under PFC Consulting Limited (PFCCL), as a Special Purpose Vehicle (SPV) to oversee a new transmission project. This initiative aims to develop the ALIBAG POWER TRANSMISSION LIMITED project.
Project Details
The SPV will specifically focus on the establishment of a 765/400/220 kV AIS Dolvi (Dist. Raigad) transmission system. This project comes as Maharashtra State Electricity Transmission Company Limited (MSETCL) appointed PFCCL as the Bid Process Coordinator (BPC) on August 14, 2025, for selecting a developer through tariff-based competitive bidding.
Strategic Importance
As per tariff based competitive bidding guidelines, the BPC is responsible for preparing the project profile, initiating land acquisition, and obtaining forest clearances, if necessary. The SPV will handle preparatory activities like surveys, report preparation, land acquisition initialization, and seeking forest clearances. The SPV will be transferred to the successful bidder after the bidding process is complete, who will then develop the project.
Source: BSE
