PFC Launches New SPV for Green Hydrogen Transmission in Andhra Pradesh

State-owned Power Finance Corporation has launched a special purpose vehicle through its subsidiary PFC Consulting Limited. This move aims at developing a transmission system for green hydrogen projects in Andhra Pradesh. Kakinada Transmission Ltd will initially manage the project before it is handed over to a successful bidder.

The Power Finance Corporation (PFC), a state-owned enterprise, announced the creation of a special purpose vehicle (SPV) dedicated to advancing transmission systems for green hydrogen projects in Andhra Pradesh. This SPV will operate under PFC Consulting Limited, a full subsidiary of PFC.

The newly constituted SPV, Kakinada Transmission Ltd, is poised to focus on developing transmission systems for upcoming green hydrogen and ammonia initiatives in the Kakinada region as part of the project's initial phase.

Once the bidding process concludes, the SPV management will transition to the selected bidder, who will then take over project development responsibilities.

(With inputs from agencies.)