Power Finance Corporation Limited has informed the stock exchanges about the incorporation of Northern Region Power Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited (PFCCL). PFCCL is, in turn, a wholly owned subsidiary of PFC.
The new Special Purpose Vehicle (SPV) has been established to address the static and dynamic compensation requirements of the Northern Region Grid.
PFC Sets Up SPV for Northern Region Grid
The Ministry of Power and the Central Electricity Authority have nominated PFCCL as the Bid Process Coordinator (BPC) to select the project developer through the Tariff Based Competitive Bidding (TBCB) process.
Under the applicable guidelines, the BPC incorporates an SPV to undertake preparatory activities, including surveys, land acquisition and forest clearances, where required. The SPV is subsequently transferred to the successful bidder selected through the competitive bidding process.
PFC has made the disclosure for the information and record of the stock exchanges.
