New Delhi: Power Finance Corporation (PFC) has completed the transfer of NES Dharashiv Transmission Limited, a special purpose vehicle (SPV) set up for a renewable energy evacuation project in Maharashtra, to Montecarlo Limited, the successful bidder, the company said in a regulatory filing on Thursday.

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The SPV was a wholly owned subsidiary of PFC Consulting Limited, which in turn is a subsidiary of PFC. The transfer was completed on March 12, following the conclusion of the bidding and share purchase process.

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NES Dharashiv Transmission Limited was established for the development of the Network Expansion Scheme in Maharashtra for evacuation of renewable energy power from Dharashiv and Beed districts.

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