PFC Consulting incorporates special purpose vehicle to develop independent transmission projects

New Delhi: PFC Consulting Limited has incorporated a special purpose vehicle (SPV) as a wholly-owned subsidiary for the development of independent transmission projects, according to a regulatory statement.
PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation Limited (PFC), under the Ministry of Power, is the nodal agency for the development of integrated power development scheme(IPDS), ultra mega power projects (UMPPs) and bid process coordinator for independent transmission projects (ITPs).

Bikaner III Neemrana II Transmission Ltd has been incorporated as subsidiary of PFC

"Bikaner III Neemrana II Transmission Limited for development of transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-1: Bikaner Complex) Part-C", a special purpose vehicle (SPV) for development of independent transmission projects has been incorporated as a wholly-owned subsidiary of PFC Consulting Ltd," Power Finance Corporation informed the exchanges.

SPV is to be transferred via bidding

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.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)