Power Finance Corporation Ltd Subsidiary Incorporates SPV for Inter-Regional Transmission System Development

Power Finance Corporation Ltd (PFC) announced the incorporation of a Special Purpose Vehicle (SPV) named 'SR AND ER POWER TRANSMISSION LIMITED' by its wholly owned subsidiary, PFC Consulting Limited (PFCCL). The SPV has been set up for the development of the 'Inter-Regional Strengthening between SR Grid and ER Grid' transmission system. The Ministry of Power (MoP) 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 be responsible for various preparatory activities such as survey, land acquisition, and forest clearance, if required. Post completion of the bidding process, the SPV will be transferred to the successful bidder who will develop the project.