PFC subsidiary incorporates SPV for transmission project

Power Finance Corporation Limited (PFC) has announced that its wholly-owned subsidiary, PFC Consulting Limited (PFCCL), has incorporated a new Special Purpose Vehicle (SPV) named ALIBAG POWER TRANSMISSION LIMITED. This SPV is established for the "Establishment of 765/400/220 kV AIS Dolvi (Dist. Raigad)" project.

Maharashtra State Electricity Transmission Company Limited (MSETCL) issued a Letter of Intent (LOI) on August 14, 2025, appointing PFCCL as the bid process coordinator (BPC) for selecting a developer for Independent Transmission Projects (ITPs). The process involves tariff-based competitive bidding to establish the aforementioned transmission system. The SPV will undertake preparatory activities for the transmission projects, including land acquisition and forest clearance.

In accordance with tariff-based competitive bidding guidelines, the SPV will be transferred to the successful bidder after the completion of the bidding process, with that bidder responsible for developing the project. This incorporation marks a step forward in the execution of the transmission scheme, following its approval.