Power Finance Corporation Ltd Establishes SPV for Transmission System Strengthening at Tumkur-II

Power Finance Corporation Ltd (PFC) has incorporated a Special Purpose Vehicle (SPV), TUMKURIIRE TRANSMISSION LIMITED, as a wholly owned subsidiary of PFC Consulting Limited (PFCCL). The SPV is set up for the development of 'Transmission system strengthening at Tumkur-II for integration of additional RE potential (1.5 GW)'. The Ministry of Power has appointed PFCCL as the Bid Process Coordinator (BPC) for the selection of a Bidder as Transmission Service Provider (TSP) through a Tariff Based Competitive Bidding Process. The SPV will take up various preparatory activities such as survey, preparation of report, initiation of land acquisition, and forest clearance if required. The SPV will be transferred to the successful bidder after the completion of the bidding process.