PFC Incorporates Wholly Owned Subsidiary for Transmission Project

Power Finance Corporation Ltd. (PFC) has announced the incorporation of 'Benchigere Transmission Limited' as a wholly owned subsidiary of its subsidiary, PFC Consulting Limited (PFCCL). This Special Purpose Vehicle (SPV) is established to undertake preparatory activities for a 400kV transmission system in Tumakuru District, Karnataka. PFCCL was nominated as the Bid Process Coordinator (BPC) by the Ministry of Power, Gol, for this Independent Transmission Project (ITP). The SPV will handle tasks like land acquisition and forest clearance, and will be transferred to the successful bidder selected through a tariff-based competitive bidding process. The incorporation aligns with approvals from the State Empowered Committee on Transmission and the Energy Department of Karnataka.