Power Finance Corporation (PFC) has successfully transferred its wholly-owned subsidiary, KPS III HVDC Transmission Limited, to Adani Energy Solutions Limited on December 12, 2025. This transfer follows Adani Energy Solutions being identified as the successful bidder. The consideration received from the sale amounts to ₹20,32,54,965 as per the Share Purchase Agreement.
KPS III HVDC Transmission Sold
Power Finance Corporation (PFC) announced the transfer of its wholly-owned subsidiary, KPS III HVDC Transmission Limited, to Adani Energy Solutions Limited. The transfer was completed on December 12, 2025, following the selection of Adani Energy Solutions as the successful bidder.
Details of the Transaction
KPS III HVDC Transmission Limited was established to develop the “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujrat under Phase-V (8GW): Part C”.
- Consideration Received: ₹20,32,54,965 as per the Share Purchase Agreement.
- Buyer: Adani Energy Solutions Limited.
The turnover or revenue or income and net worth contributed by KPS III HVDC Transmission Limited during the last financial year was negligible.
Nature of the Transaction
The transaction is not considered a related party transaction and is not in the nature of a slump sale. The consideration for the sale and transfer of SPVs was determined in accordance with guidelines issued by the Ministry of Power, Government of India.
Source: BSE