Power Finance Corporation (PFC) announces the incorporation of a wholly-owned subsidiary, PFC Consulting Limited (PFCCL), for the development of the Tumkur II RE Transmission project. This Special Purpose Vehicle (SPV) will strengthen the transmission system at Tumkur-II for integrating additional RE potential of 1.5 GW. The project aligns with tariff-based competitive bidding guidelines and aims to facilitate renewable energy integration.
Transmission System Strengthening at Tumkur
Power Finance Corporation (PFC) has incorporated a wholly-owned subsidiary, PFC Consulting Limited (PFCCL), as a Special Purpose Vehicle (SPV) for the development of transmission infrastructure. The subsidiary will focus on the Tumkur II RE Transmission LIMITED project.
Project Details and Purpose
The primary objective is development of “Transmission system strengthening at Tumkur-II for integration of additional RE potential (1.5 GW)”. This project is critical for enhancing transmission capabilities to support renewable energy integration in the region.
Bidding and Development Process
The Ministry of Power (MoP) appointed PFCCL as the Bid Process Coordinator (BPC), vide Gazette Notification dated 19.08.2025, for the selection of a Transmission Service Provider (TSP). As per tariff based competitive bidding guidelines, the SPV will undertake preparatory activities, including surveys and land acquisition, before being transferred to the successful bidder.
The establishment of this SPV demonstrates Power Finance Corporation’s commitment to facilitating renewable energy infrastructure development through a tariff-based competitive bidding process.
Source: BSE
