Power Finance Corporation Ltd. (PFC) has announced the incorporation of a new Special Purpose Vehicle (SPV) named Pune West Power Transmission Limited. This subsidiary, under PFC Consulting Limited (PFCCL), is established to facilitate the 765 kV GIS transmission project in the Pune district. This development follows a mandate from the Government of Maharashtra and the Ministry of Power to enhance intra-state transmission infrastructure through the Tariff Based Competitive Bidding (TBCB) process.
Strategic Infrastructure Development
To support the growing energy requirements in Maharashtra, PFC Consulting Limited (PFCCL) has officially incorporated a new subsidiary, Pune West Power Transmission Limited. This Special Purpose Vehicle (SPV) will serve as the primary entity for the establishment of a 765 kV GIS substation in the Pune district. The incorporation aligns with the broader objective of developing robust intra-state transmission systems.
Role of the Special Purpose Vehicle
As the designated Bid Process Coordinator (BPC), PFCCL utilizes this SPV to manage the critical early-stage preparatory work for the transmission project. Key responsibilities for the SPV include:
- Conducting site surveys and preparing detailed project reports.
- Initiating the land acquisition process.
- Securing necessary forest clearances.
Project Execution and Bidding
The establishment of this project was initiated following a resolution by the Government of Maharashtra dated February 27, 2026, confirming the appointment of PFCCL as the BPC. In accordance with the Ministry of Power’s Tariff Based Competitive Bidding (TBCB) guidelines, the SPV is designed to be a temporary vehicle. Upon completion of the selection process, ownership of the SPV will be transferred to the successful bidder, who will then be responsible for the final execution and operation of the transmission infrastructure.
Source: BSE
