Power Finance Corporation Limited (PFC) announced the incorporation of three new Special Purpose Vehicle (SPV) companies under its wholly owned subsidiary, PFC Consulting Limited (PFCCL). These entities have been set up to facilitate the development of key transmission infrastructure projects across India.
The newly incorporated SPVs are:
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Mandsaur I RE Transmission Limited – Tasked with augmenting transformation capacity and implementing line bays at Mandsaur Substation for renewable energy interconnection.
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Vindhyachal Varanasi Transmission Limited – Responsible for strengthening the inter-regional transmission system (NR-WR) to relieve the load on the 765 kV Vindhyachal-Varanasi double circuit line.
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Morena I SEZ Transmission Limited – Assigned the development of transmission systems for evacuation of 2500 MW of renewable power from projects in Morena SEZ, Madhya Pradesh (Phase I).
These SPVs were created following the Ministry of Power’s notification appointing PFCCL as the Bid Process Coordinator (BPC) for selecting Transmission Service Providers (TSPs) through Tariff Based Competitive Bidding (TBCB). The SPVs will manage preparatory activities such as land acquisition, forest clearances, and technical surveys, after which they will be transferred to the successful bidders selected through an international bidding process.
The projects reflect PFC’s continued focus on supporting India’s growing renewable energy and transmission infrastructure goals.
