Power Finance Corporation forms subsidiary to manage 400kV Transmission project in Tumakuru District
Power Finance Corporation Limited (PFC) has established a new wholly owned subsidiary, Benchigere Transmission Limited, to manage a significant transmission system project in Karnataka. This move is part of a larger initiative involving the development of Independent Transmission Projects (ITPs) under the guidance of PFC Consulting Limited (PFCCL).The newly incorporated Special Purpose Vehicle (SPV), Benchigere Transmission Limited, is dedicated to managing the transmission system for 400kV Benchigere in Tumakuru District. This entity has been created as a wholly owned subsidiary of PFCCL, which itself operates under Power Finance Corporation Limited.
Under the guidelines issued by the Ministry of Power for tariff based competitive bidding, PFC Consulting Limited has been designated as the 'Bid Process Coordinator' (BPC) for selecting the developer for these Independent Transmission Projects. The establishment of this dedicated SPV is necessary to execute preparatory activities required for the transmission project. These activities include surveys and report preparation, initiating land acquisition processes, and starting the process to seek forest clearance, if required.
The primary role of Benchigere Transmission Limited will be developmental and preparatory. Following the completion of the International Competitive Bidding Process, the SPV will be transferred to the successful bidder, who will then develop the project.
A timeline and operational detail summary is presented below:
| Component | Detail |
|---|---|
| SPV Name | Benchigere Transmission Limited |
| Purpose | Transmission system for 400kV Benchigere in Tumakuru District |
| Parent Entity | PFC Consulting Limited (PFCCL) |
The action of nominating PFCCL as the BPC was ratified by the State Empowered Committee on Transmission during its 07th Meeting, which took place on 29.08.2025. Furthermore, this process received approval from the Energy Department via Government Order No. Energy 73 PPT 2024, Bengaluru dated 18. I 0.2025.
The SPV has been incorporated as a wholly owned subsidiary of PFCCL to undertake the development of the transmission scheme, and it will be transferred to the successful bidder once the bidding process is complete.
PFC Stock Price Movement
Power Finance Corporation Limited shares slipped by 0.07% to settle at ₹419.9 today, ending the session in the market. The stock traded within a narrow intraday range of ₹417.3 and ₹423.5 during trading.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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