PFC incorporates SPV for transmission system development in Kurnool

New Delhi: State-run Power Finance Corporation Limited (PFC) has announced the incorporation of a Special Purpose Vehicle (SPV), Kurnool IV REZ Power Transmission Limited, through its wholly owned subsidiary PFC Consulting Limited (PFCCL). The newly formed SPV will spearhead the development of the "Transmission System for Kurnool-IV REZ - Phase-II (3 GW)".

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This initiative is in line with the Gazette Notification (No. CG-DL-E-30032025-262168) issued by the Ministry of Power (MoP) on March 27, 2025, which appointed PFCCL as the Bid Process Coordinator (BPC) for selecting a Transmission Service Provider (TSP) to implement the project under the Tariff Based Competitive Bidding (TBCB) framework.

As per TBCB guidelines issued by the MoP, the BPC is responsible for preparing the project profile, initiating land acquisition, conducting surveys, and beginning the forest clearance process, if required. These preparatory activities will be undertaken by the newly incorporated SPV.

Upon the successful completion of the international competitive bidding process, the SPV will be transferred to the selected bidder, who will then take up the responsibility of implementing the transmission project.

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