Power Finance Corporation Limited (PFC) has announced the incorporation of MEL Power Transmission Limited, a wholly-owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly-owned subsidiary of PFC. This new entity has been established to develop the “Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh.”
The Ministry of Power, through Gazette Notification No. CG-DL-E-22082024-256561 dated August 21, 2024, appointed PFCCL as the Bid Process Coordinator (BPC) for selecting a Transmission Service Provider (TSP) to implement this transmission system via a Tariff-Based Competitive Bidding Process.
In line with the guidelines issued by the Ministry of Power, the BPC is responsible for preparing the project profile and initiating processes such as land acquisition and forest clearance. To facilitate these preparatory activities, the incorporation of a Special Purpose Vehicle (SPV) is required. MEL Power Transmission Limited will undertake tasks including surveys, report preparation, and the initiation of land acquisition and forest clearance procedures.
Upon completion of the bidding process, the SPV will be transferred to the successful bidder selected through the International Competitive Bidding Process under the Tariff-Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power. The successful bidder will then be responsible for developing the project.
This strategic move underscores PFC’s commitment to enhancing India’s power infrastructure and ensuring efficient power evacuation from key generating stations.
