PFC Incorporates Wholly Owned Subsidiary for Transmission Project
Power Finance Corporation Limited (PFC) has announced the incorporation of a wholly-owned subsidiary, Satara Power Transmission Limited. This Special Purpose Vehicle (SPV) is established under PFC Consulting Limited (PFCCL), itself a wholly-owned subsidiary of PFC. The SPV will undertake preparatory activities for the Satara Power Transmission Network Expansion Scheme in the Western Region, focusing on pumped storage potential near Satara. PFCCL has been nominated as the Bid Process Coordinator (BPC) by the Ministry of Power for this project, which involves selecting a developer through tariff-based competitive bidding. The SPV will manage tasks such as surveys, land acquisition, and forest clearance processes before being transferred to the successful bidder.
Key Highlights
- PFC establishes a new wholly-owned subsidiary, Satara Power Transmission Limited.
- The subsidiary is for a transmission network expansion scheme in the Western Region.
- It will handle preparatory activities including land acquisition and forest clearance.
- PFC Consulting Limited acts as the Bid Process Coordinator for the project.
- The SPV will be transferred to the selected developer via competitive bidding.
Price Impact
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