PFC Subsidiary Renamed to Wahipora-Baghthali Transmission Ltd

Power Finance Corporation Ltd (PFC) announced the name change of its Special Purpose Vehicle (SPV), Wahipora and Sallar Transmission Limited, to Wahipora-Baghthali Transmission Limited. This SPV is a wholly-owned subsidiary of PFC Consulting Limited (PFCCL), which in turn is a subsidiary of PFC. The name change reflects the restructuring of a transmission scheme in Jammu and Kashmir, which has been divided into multiple packages. PFCCL was appointed as the Bid Process Coordinator (BPC) by Jammu and Kashmir Power Transmission Corporation Limited (JKPTCL) for the selection of a developer for the transmission scheme through tariff-based competitive bidding. The SPV will undertake preparatory activities like surveys and land acquisition, and will be transferred to the successful bidder upon completion of the bidding process.