PFC's wholly -owned subsidiary launches Special Purpose Vehicle for Independent Transmission Projects

New Delhi: State-owned Power Finance Corporation (PFC) said in a regulatory filing on Wednesday that it has incorporated the Joda Barbil Transmission Limited, a Special Purpose Vehicle (SPV), to spearhead the development of the ambitious "Construction of 400/220/132 KV Grid Substations at Joda/Barbil with associated transmission lines" project. This venture is a significant step towards strengthening India's power transmission infrastructure.

Joda Barbil Transmission Ltd will be responsible for execution of ITPs

Joda Barbil Transmission Limited, wholly owned by PFC Consulting Limited, will be responsible for the execution of Independent Transmission Projects (ITPs) through a tariff-based competitive bidding process, as nominated by the Ministry of Power.

Role of PFC Consulting Ltd

The role of PFC Consulting Limited, another wholly owned subsidiary of Power Finance Corporation Limited, has been designated as the 'Bid Process Coordinator' for the selection of a developer through the competitive bidding process for the ITPs.

In accordance with the guidelines set by the Ministry of Power for tariff-based competitive bidding, the Bid Process Coordinator is responsible for preparing the project profile and initiating crucial tasks such as land acquisition and forest clearance, if required. To fulfill these pre-construction activities, the incorporation of a Special Purpose Vehicle is necessary. The SPV will undertake various preparatory activities, including surveying, report preparation, initiation of land acquisition processes, and forest clearance procedures if deemed necessary.

Following the completion of these preparatory activities, the Special Purpose Vehicle will be transferred to the successful bidder selected through the International Competitive Bidding Process, as per the Tariff-Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power.

OPTCL has appointed PFC Consulting Limited as the Consultant & Bid Process Coordinator

Odisha Power Transmission Corporation Limited (OPTCL) has appointed PFC Consulting Limited as the Consultant and Bid Process Coordinator (BPC) through a Letter of Award (LoA) dated December 26, 2022. The purpose of this appointment is to facilitate the selection of a qualified Bidder as the Transmission Service Provider (TSP) to establish the intra-state transmission system for the "Construction of 400/220/132 KV Grid Substations at Joda/Barbil with associated transmission lines."

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