Power Finance Corporation (PFC) has announced the incorporation of five wholly owned subsidiaries under its subsidiary, PFC Consulting Limited, to facilitate the development of Independent Transmission Projects (ITPs). These new entities are JAM KHAMBHALIYA REZ Transmission Limited, LAKADIA A Power Transmission Limited, LAKADIA C Power Transmission Limited, ANANTHPURAM Transmission Limited, and KRISHNAGIRI REZ Transmission Limited.
The Ministry of Power has nominated PFC Consulting Limited as the Bid Process Coordinator (BPC) for selecting developers through tariff-based competitive bidding for these projects. The new subsidiaries will serve as Special Purpose Vehicles (SPVs) to manage various preparatory activities, including land acquisition and forest clearance, if necessary.
Each SPV is tasked with the development of specific transmission systems. JAM KHAMBHALIYA REZ Transmission Limited will focus on integrating power from renewable energy projects in Jam Khambhaliya, Gujarat. LAKADIA A and LAKADIA C Power Transmission Limited will handle the common transmission systems for power evacuation from Lakadia, Jam Khambhaliya, and Jamnagar phases. ANANTHPURAM Transmission Limited will manage the integration of the Ananthpuram-III PS REZ Phase-I, while KRISHNAGIRI REZ Transmission Limited will focus on the integration of the Krishnagiri REZ Phase-I.
The Central Electricity Authority and the National Committee on Transmission have recommended these projects, which have been notified under the Tariff Based Competitive Bidding (TBCB) mode by the Ministry of Power. Once the bidding process is complete, the SPVs will be transferred to the successful bidder, who will then develop the projects.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).