SPVs of Power Finance Corporation to be incorporated as subsidiaries
![SPVs of Power Finance Corporation to be incorporated as subsidiaries](https://www.psuconnect.in/sdsdsd/pfc56.jpg)
Special Purpose Vehicles of Power Finance Corporation has been incorporated as wholly owned subsidiaries of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC) namely, Chitradurga Bellary Rez Transmission Limited, Bijapur Rez Transmission Limited and Kudankulam ISTS Transmission Limited.
Chitradurga Bellary Rez Transmission Limited for the development of the Transmission Scheme for integration of Davanagere / Chitradurga REZ and Bellary REZ in Karnataka.
Bijapur Rez Transmission Limited for the development of the Transmission Scheme for integration of Bijapur REZ in Karnataka.
Kudankulam ISTS Transmission Limited For the development of “Transmission System under ISTS for evacuation of power from Kudankulam Unit - 3 & 4 (2x1000 MW)”.
Read Also : Australia’s largest Clean Energy Delegation visits India to explore partnerships with India
PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited) has been nominated as the ‘Bid Process Coordinator’ (BPC) for the selection of developer through tariff-based competitive bidding for the Independent Transmission Projects (ITPs) by the Ministry of Power, GoI, as per the regulatory filing.
As per the provisions of tariff based competitive bidding Guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required. For these activities, a Special Purpose Vehicle (SPV) is required to be incorporated which take up various preparatory activities of the transmission projects e.g. survey and preparation of report, initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required, it added.
Read Also : Indian Army Inducts 113 Electric Buses
The SPV has to be transferred to the Successful Bidder selected through the International Competitive Bidding Process under the Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power National Stock Exchange of India Limited
Ministry of Power has appointed PFC Consulting Limited (PFCCL) to be the Bid Process Coordinator (BPC) for the selection of a Bidder as Transmission Service Provider (TSP) to establish the following transmission system through Tariff a competitive Bidding Process:
Transmission Scheme for integration of Davanagere / Chitradurga REZ and Bellary REZ in Karnataka. Transmission Scheme for integration of Bijapur REZ in Karnataka and the Transmission System under ISTS for evacuation of power from Kudankulam Unit - 3 & 4 (2x1000 MW).
The SPVs mentioned above have been set up as wholly owned subsidiaries of PFCCL to work on the transmission schemes mentioned. These SPVs will be transferred to the successful bidders once the bidding process is complete. The successful bidders chosen through the bidding process will be responsible for developing the projects.
Read Also : Annual defence production hits record high of approx. Rs 1.27 lakh crore in FY25News Must Read
- DVC sign Power Purchase Agreement with GUVNL
- Defence Ministry to support all endeavours of BEL
- NCL SIgns MoU with UPRVUNL for 250 MW of Solar Power Capacity
- NTPC Vidyut Vyapar Nigam Ltd Achieves 43% YoY Growth, Trading 11.5 Billion Units in Q1 FY25
- Vivek Chandrakant Tongaonkar appointed as ONGC’s New Director (Finance) and CFO
- IREDA's Impressive Q1 FY25 Performance
- NTPC achieves 17.15% surge in Coal Despatch and 15% Growth in Coal Production in Q1 FY25
- NTPC achieves 113.87 BU generation in Q1 FY25
- CONCOR and ITE Japan sign MoU for green cold chain logistics solution
- NTPC Hiring for Associate Position: Last Date of Applying Today