Power Finance Corporation Incorporates SPV for Network Expansion Scheme in Western Region
Power Finance Corporation Ltd (PFC) has created a new subsidiary to drive its network expansion initiatives in the transmission sector. The company has incorporated Satara Power Transmission Limited, a Special Purpose Vehicle (SPV), to manage preparatory activities associated with major Independent Transmission Projects (ITPs).Satara Power Transmission Limited has been established as a wholly-owned subsidiary of PFC Consulting Limited (PFCCL). PFCCL itself is a wholly owned subsidiary of Power Finance Corporation Limited. The SPV's purpose is focused on the Network Expansion Scheme in the Western Region, specifically addressing pumped storage potential near Satara. This scheme holds a capacity of up to 4500 MW and represents Part A of the transmission project initiative.
The creation of this SPV is part of a structured process initiated by the Ministry of Power (MoP). PFCCL has been nominated as the Bid Process Coordinator (BPC) for selecting developers through tariff based competitive bidding. As per MoP guidelines, the BPC must prepare the project profile and initiate preparatory work before projects move to the competitive stage.
The SPV is required to handle various preliminary activities necessary for these transmission projects, including surveys, report preparation, and initiating the processes for land acquisition and forest clearance, if needed. The established SPV will subsequently be transferred to the successful bidder selected through the International Competitive Bidding Process under the Tariff Based Competitive Bidding Guidelines issued by the Ministry of Power.
Key details regarding the newly incorporated subsidiary are as follows:
| Detail | Information |
|---|---|
| SPV Name | Satara Power Transmission Limited |
| Parent Company Chain | PFC Consulting Limited (PFCCL) -> Power Finance Corporation Ltd (PFC) |
| Project Scope | Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara |
| Capacity | Up to 4500 MW |
The successful bidder, selected through the competitive bidding process, will be responsible for developing the project.
PFC Stock Price Movement
As of 2:12 PM, shares of Power Finance Corporation Limited are slipping by 0.49% in live trading, currently valued at ₹404.5 as the stock performs. The decline comes amid robust activity, with over 4.05 million shares having changed hands during this session.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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