Power Finance Corporation Limited (PFC), through its wholly owned subsidiary PFC Consulting Limited (PFCCL), has incorporated a new Special Purpose Vehicle (SPV) named NES Pune East New Transmission Limited for developing a key transmission infrastructure project in Maharashtra.
The newly formed SPV will execute the “Network Expansion Scheme in Maharashtra for removal of transmission constraints in Pune Region-I (765/400 kV Pune East)”. The incorporation is part of PFC’s role as the Bid Process Coordinator (BPC), as appointed by Maharashtra State Electricity Transmission Company Limited (MSETCL) via a Letter of Intent dated January 17, 2025.
As per the Tariff Based Competitive Bidding (TBCB) guidelines issued by the Ministry of Power, the SPV will carry out preparatory activities including survey work, project profiling, and initiation of processes related to land acquisition and forest clearance.
Eventually, this SPV will be transferred to the successful bidder selected through international competitive bidding to undertake the actual implementation of the transmission project.
This development reinforces PFC’s ongoing efforts to streamline large-scale power infrastructure projects and address critical transmission bottlenecks in high-demand regions like Pune.
Disclaimer: The information provided in this article is based on official filings made by the company to stock exchanges. It is intended solely for informational purposes and should not be construed as financial or investment advice. Stock market investments are subject to market risks. Always consult a qualified financial advisor before making any investment decisions.