New Delhi: State-owned Power Finance Corporation (PFC) on Friday said its arm PFC Consulting has incorporated a project special purpose vehicle to set up an electricity transmission system.

The project to be set up by Mundra I Transmission Ltd will supply power to green hydrogen /ammonia manufacturing potential in Mundra area of Gujarat, a regulatory filing said.

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PFC Consulting Ltd (PFCCL) has been appointed as bid process coordinator for selection of bidder as Transmission Service Provider (TSP) to establish the transmission system through tariff-based competitive bidding.

The SPV has been incorporated as a wholly owned-subsidiary of PFCCL to develop the transmission scheme. This SPV will be transferred to the successful bidder after the completion of the bidding process.

The successful bidder selected through the bidding process would develop the project.

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