PFC Consulting incorporates Special Purpose Vehicle for Green Hydrogen supply

State-owned Power Finance Corporation announced on Friday that its subsidiary, PFC Consulting, has established a special purpose vehicle (SPV) for the development of an electricity transmission system.

This project, to be undertaken by Mundra I Transmission Ltd, aims to supply power to support green hydrogen and ammonia manufacturing in the Mundra area of Gujarat, as stated in a regulatory filing.

PFC Consulting Ltd (PFCCL) has been appointed as the bid process coordinator to select a bidder who will act as the Transmission Service Provider (TSP) for the establishment of the transmission system through a tariff-based competitive bidding process. The SPV has been created as a wholly owned subsidiary of PFCCL specifically to develop this transmission scheme.

Once the bidding process is completed, the SPV will be transferred to the successful bidder, who will then be responsible for project development.

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