Power Finance Corporation Ltd Subsidiary Incorporates Three Special Purpose Vehicles for Transmission Projects

Power Finance Corporation Ltd (PFC) announced the incorporation of three Special Purpose Vehicles (SPVs) as wholly owned subsidiaries of PFC Consulting Limited (PFCCL), a subsidiary of PFC. The SPVs, Mandsaur I RE Transmission Limited, Vindhyachal Varanasi Transmission Limited, and Morena I SEZ Transmission Limited, will be used for the development of transmission projects in Madhya Pradesh. These projects include the augmentation of transformation capacity and implementation of line bays at Mandsaur for RE interconnection, inter-regional transmission system strengthening to relieve the loading of the 765 kV Vindhyachal-Varanasi D/c line, and transmission system for evacuation of power from RE projects in Morena SEZ in Madhya Pradesh-Phase I (2500 MW). PFCCL has been appointed as the Bid Process Coordinator (BPC) for the selection of a Bidder as a Transmission Service Provider (TSP) for these projects. The SPVs will be transferred to the successful bidders after the completion of the bidding process.