PFC arm incorporates SPV for Latur transmission project

New Delhi: Power Finance Corporation (PFC) on Thursday said its arm PFC Consulting Ltd has incorporated a special purpose vehicle (SPV) for the establishment of a Latur transmission project.

The SPV, Latur REZ Transmission Ltd, will establish the 400/220/132 kV AIS project.

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Maharashtra State Electricity Transmission Company Ltd (MSETCL) has placed a Letter of Intent (LOI) dated August 14, 2025, appointing PFCCL (PFC Consulting Ltd) as the Bid Process Coordinator (BPC) for the selection of Bidder as Transmission Service Provider (TSP) to establish the aforementioned transmission system through tariff-based competitive bidding process, a regulatory filing said.

As per the provisions of tariff based competitive bidding guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required.

For these activities, a SPV is required to be incorporated, which will take up various preparatory activities of the transmission projects, such as survey and preparation of report, initialisation of the process of acquisition of land and also initiate the process of seeking forest clearance, if required.

The SPV has to be transferred to the successful bidder selected through the International competitive bidding process under tariff-based competitive bidding guidelines for Transmission Service issued by the Ministry of Power.

Accordingly, the SPV has been incorporated as a wholly owned subsidiary of PFCCL to develop the aforementioned transmission scheme.

The SPV will be transferred to the successful bidder after the completion of the bidding process.

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