Power Finance Corporation Limited (PFC) announced the transfer of Pune-III Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited, to Adani Energy Solutions Limited. This move comes after the completion of the sale and transfer process on November 19, 2024.
Pune-III Transmission Limited was established for the development of the “Transmission System for Evacuation of Power from Potential Renewable Energy Zone in Khavda Area of Gujarat under Phase-IV (7GW): Part D.” The transaction was finalized with a consideration of ₹18,78,79,037 as per the Share Purchase Agreement.
It is important to note that Adani Energy Solutions Limited, the successful bidder, does not belong to the promoter or promoter group of Power Finance Corporation. The transaction is expected to have a negligible impact on the financial performance of the listed entity.
This strategic transfer aligns with PFC’s ongoing efforts to optimize its subsidiary portfolio while supporting the growth of renewable energy infrastructure in India.
