New Delhi: Power Finance Corporation Limited (PFC), a leading public sector undertaking under the Ministry of Power, has announced the incorporation of 'Wagdari Transmission Limited' as a wholly owned subsidiary of PFC Consulting Limited (PFCCL). The new Special Purpose Vehicle (SPV) has been established to develop a 400/220 kV transmission substation at Wagdari in Maharashtra’s Solapur district.
The formation of this SPV follows a Letter of Intent (LOI) issued by the Maharashtra State Electricity Transmission Company Limited (MSETCL) on March 19, appointing PFCCL as the Bid Process Coordinator (BPC) for the project. The transmission scheme will be implemented through the Tariff Based Competitive Bidding (TBCB) process.
In accordance with the TBCB guidelines issued by the Ministry of Power, the BPC is tasked with preparatory activities such as conducting field surveys, preparing project reports, initiating land acquisition, and securing forest clearances if necessary. These functions will be carried out by the newly incorporated SPV.
Once the international competitive bidding process is concluded, Wagdari Transmission Limited will be transferred to the successful bidder, who will then take over the execution of the transmission project.
This development marks another significant step by PFC in strengthening power transmission infrastructure and ensuring reliable electricity access in key regions across India.
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