PFC incorporates SPV for development of transmission project in Andhra

New Delhi: State-owned Power Finance Corporation (PFC) Limited on Thursday said a special purpose vehicle has been incorporated as a wholly-owned subsidiary of PFC Consulting Limited for the development of a transmission system for proposed green hydrogen projects in Andhra Pradesh.

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PFC Consulting Limited (PFCCL) is its wholly-owned subsidiary, Power Finance Corporation (PFC) said in an exchange filing.

The SPV, Kakinada Transmission Ltd, has been incorporated as a wholly-owned subsidiary of PFCCL to develop the transmission system for proposed green hydrogen/ green ammonia projects in Kakinada area (Phase-I) transmission scheme.

The SPV will be transferred to the successful bidder after the completion of the bidding process. The selected bidder would develop the project.

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