Four totally owned Special Purpose Vehicle (SPV) firms have been incorporated by Power Finance Corporation Limited (PFC) through its subsidiary PFC Consulting Limited (PFCCL). These companies would be responsible for developing important power transmission projects in Jaipur and Karnataka.
Stock exchanges, such as BSE Limited and National Stock Exchange of India Limited, were informed of the disclosure. For Independent Transmission Projects (ITPs), the Ministry of Power has designated PFCCL as the Bid Process Coordinator (BPC) to oversee the competitive bidding process based on tariffs. In order to be eligible to bid, the BPC must first finish the preparatory work for the project, as outlined by the Ministry of Power.
The winning bidder will receive ownership of each SPV when the international competitive bidding process is over, and they will be responsible for developing and implementing the project. These SPVs’ inclusion exemplifies PFC’s ongoing contribution to enhancing India’s power transmission network. Supporting grid reliability, enabling renewable energy integration, and meeting rising electricity demand in critical states are the projected outcomes of the initiatives.
Image Credit : PSU watch
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