Power Finance Corporation Launches New SPV for Transmission Expansion

State-owned Power Finance Corporation announced the formation of a new special purpose vehicle, Fatehgarh II and Barmer I PS Transmission Ltd, by its subsidiary PFC Consulting Ltd. The SPV aims to enhance transmission infrastructure at several power stations and will be transferred to a successful bidder through international competitive bidding.

In a significant move, the Power Finance Corporation, a state-owned entity, disclosed on Monday that its subsidiary, PFC Consulting Ltd, has established a new special purpose vehicle (SPV) named Fatehgarh II and Barmer I PS Transmission Ltd.

According to a regulatory filing, this SPV has been created with the purpose of augmenting the transmission infrastructure at Fatehgarh-II and Barmer-I power stations, along with a section of Fatehgarh-IV.

The project will be awarded to a successful bidder through an International Competitive Bidding Process, following Tariff-Based Competitive Bidding Guidelines as set by the Ministry of Power, according to the release.

(With inputs from agencies.)