Power Finance Corporation Ltd. (PFC) has announced the incorporation of two new wholly owned subsidiaries under its arm, PFC Consulting Limited. These special purpose vehicles (SPVs), named Western Ghats PSP Transmission Limited and Hingoli West Power Transmission Limited, were established to facilitate the development of critical 400 kV power transmission infrastructure in Maharashtra through a competitive bidding process.
Strategic Subsidiary Formation
To support the expansion of India’s power transmission grid, Power Finance Corporation (PFC) has successfully incorporated two new Special Purpose Vehicle (SPV) companies. These entities operate as wholly owned subsidiaries of PFC Consulting Limited (PFCCL) and are designed to manage the preliminary development phases of specific transmission projects.
Project Details and Objectives
The newly formed companies are tasked with the development of major transmission infrastructure in the state of Maharashtra:
- Western Ghats PSP Transmission Limited: Focused on the establishment of a 400 kV GIS switching station in Igatpuri/Murbad, District Thane.
- Hingoli West Power Transmission Limited: Dedicated to the development of a 400 kV AIS station in Hingoli West, District Hingoli.
Role in Competitive Bidding
PFC Consulting Limited has been appointed as the Bid Process Coordinator (BPC) by the Ministry of Power. As part of this mandate, the newly incorporated SPVs will handle essential preparatory activities, including conducting site surveys, drafting project reports, and initiating the process for land acquisition and forest clearances.
Once these preparatory stages are finalized, the SPVs will be transferred to the successful developer selected through the Tariff Based Competitive Bidding (TBCB) process. This structured approach ensures efficiency and transparency in the development of the state’s transmission network.
Source: BSE
