Power Finance Corp creates Kakinada transmission subsidiary

Power Finance Corporation announced the incorporation of Kakinada I Transmission Limited, a special purpose vehicle, as a wholly-owned subsidiary of PFC Consulting Limited (PFCCL). PFCCL was appointed as the Bid Process Coordinator by the Ministry of Power for selecting a Transmission Service Provider to establish a transmission system for proposed Green Hydrogen/Green Ammonia projects in the Kakinada area (Phase-I). The establishment of this subsidiary aligns with tariff-based competitive bidding guidelines. The SPV will handle preparatory activities for the transmission project, and later be transferred to the successful bidder selected through an international competitive bidding process.