PFCCL transfers Beawar Dausa Transmission asset to Power Grid

New Delhi: PFC Consulting Limited (PFCCL) has transferred its wholly-owned subsidiary Beawar Dausa Transmission to Power Grid Corporation of India Limited, according to a regulatory filing.

Beawar Dausa Transmission was set up for the development of a transmission system for the evacuation of power from REZ in Rajasthan, Power Finance Corporation (PFC) said in the filing on Monday.

PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of PFC and provides consultancy services to the power sector.

The process for the sale and transfer of the said special purpose vehicle (SPV) to the successful bidder was completed on October 30, 2023. The consideration received as per the share purchase agreement is around Rs 21.37 crore, the filing said.

In a separate filing, Power Grid said, "It has acquired Beawar Dausa Transmission Limited (BDTL) from the bid process coordinator PFC Consulting Limited."

(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.)