PFC arm transfers Kudankulam project SPV to Power Grid

New Delhi: State-owned Power Finance Corporation (PFC) on Friday said its arm PFC Consulting has transferred a project special purpose vehicle (SPV) to Power Grid Corporation of India Ltd for Rs 7.43 crore.

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The SPV, Kudankulam ISTS Transmission Ltd is established for evacuation of power from Kudankulam Unit - 3 & 4 (2x 1000 MW), a regulatory filing said.

Kudankulam ISTS Transmission is a wholly-owned subsidiary of PFC Consulting Ltd.

The consideration received for this transaction is Rs 7.43 crore as per the share purchase agreement, the filing said.

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