Power Finance Corporation Limited (PFC) has announced the incorporation of a new wholly owned subsidiary, Pune West Power Transmission Limited, under its subsidiary PFC Consulting Limited (PFCCL). This move is part of PFC’s strategy to establish a 765 kV GIS in Pune District, Maharashtra.
PFC Consulting Limited, which is a wholly owned subsidiary of PFC, has been appointed as the Bid Process Coordinator (BPC) by the Ministry of Power, Government of India. The role of the BPC is to select a developer for Independent Transmission Projects (ITPs) through a tariff-based competitive bidding process.
According to the guidelines issued by the Ministry of Power, the BPC is responsible for preparing the project profile and initiating necessary processes such as land acquisition and forest clearance. To facilitate these activities, the incorporation of a Special Purpose Vehicle (SPV) is required. Pune West Power Transmission Limited will undertake various preparatory activities for the transmission projects, including surveys, report preparation, land acquisition, and forest clearance processes.
The SPV is expected to be transferred to the successful bidder selected through the International Competitive Bidding Process, as per the Tariff Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power.
The Government of Maharashtra, through its Government Resolution dated 27 February 2026, has notified that the Empowered Committee appointed PFC Consulting Limited as the Bid Process Coordinator for selecting a Transmission Service Provider (TSP). This is aimed at establishing an intra-state transmission system for the 765 kV GIS Pune West project through the Tariff Based Competitive Bidding process.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).