Power Finance Corporation (PFC) has announced the incorporation of a new Special Purpose Vehicle (SPV) company, NERGS III SIANG BASIN TRANSMISSION LIMITED. This subsidiary of PFC Consulting Limited (PFCCL) aims to develop the “NERGS-III Siang Basin” transmission project. PFCCL has been appointed as the Bid Process Coordinator (BPC) by the Ministry of Power for selecting a Transmission Service Provider (TSP) for this project.
New Subsidiary Launch
Power Finance Corporation (PFC) announced on November 21, 2025, the incorporation of a new subsidiary. The NERGS III SIANG BASIN TRANSMISSION LIMITED is a Special Purpose Vehicle (SPV) under PFC Consulting Limited (PFCCL).
Project Details and Scope
The primary purpose of this newly formed SPV is the development of the “NERGS-III Siang Basin” transmission project. The Ministry of Power (MoP) has designated PFCCL as the Bid Process Coordinator (BPC) through Gazette Notification No. CG-DL-E-23092025-266305, issued on 18.09.2025.
Strategic Importance
As the BPC, PFCCL will oversee the selection process for a Transmission Service Provider (TSP) to build the transmission system. This initiative aligns with tariff-based competitive bidding guidelines. The SPV will undertake preparatory activities, including project profiling, land acquisition, and forest clearance. Once the bidding is complete, the SPV will be transferred to the successful bidder who will then develop the transmission project.
Source: BSE