PFC arm incorporates 4 SPVs for transmission projects in Rajasthan, Karnataka

New Delhi: Power Finance Corporation Limited (PFC) has announced the incorporation of four Special Purpose Vehicles (SPVs) through its wholly owned subsidiary, PFC Consulting Limited (PFCCL), to facilitate the development of key interstate and intrastate transmission projects.

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The newly incorporated SPVs, Babai Transmission Limited, Bikaner Transmission Limited, Humnabad Power Transmission Limited, and Hebbani Power Transmission Limited, will undertake preparatory activities for transmission infrastructure projects in Rajasthan and Karnataka.

According to the company, Babai Transmission Limited and Bikaner Transmission Limited have been set up for the development of transmission systems linked to 765 kV grid substations at Babai and Bikaner (Pugal), respectively, along with associated transmission infrastructure. These projects were approved by the Government of Rajasthan following recommendations of the State Committee on Transmission, with Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL) nominating PFCCL as the Bid Process Coordinator (BPC).

Similarly, Humnabad Power Transmission Limited and Hebbani Power Transmission Limited have been incorporated for transmission systems at 400 kV substations in Bidar and Mandya districts of Karnataka. The projects have received approvals from the state government, with Karnataka Power Transmission Corporation Limited (KPTCL) nominating PFCCL as the BPC, a decision ratified by the State Empowered Committee on Transmission.

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PFCCL has been designated as the Bid Process Coordinator by the Ministry of Power for selection of transmission developers through tariff-based competitive bidding for Independent Transmission Projects (ITPs). As part of its mandate, PFCCL undertakes preliminary activities including project profiling, surveys, land acquisition processes, and forest clearance requirements through these SPVs.

The company stated that the SPVs will be transferred to the successful bidders selected through the competitive bidding process, who will subsequently develop the projects.

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