Power Finance Corporation forms new subsidiary for transmission project in Bhadla and Bikaner

State-owned Power Finance Corporation Limited (PFC) has announced the incorporation of a new Special Purpose Vehicle (SPV) named Bhadla and Bikaner Complex Transmission Limited.

The SPV, which is wholly owned by PFC’s subsidiary, PFC Consulting Limited (PFCCL), was established for the development of transmission systems to facilitate the evacuation of power from the Bhadla and Bikaner complex.

PFCCL, appointed as the Bid Process Coordinator (BPC) by the Ministry of Power under the tariff-based competitive bidding guidelines, will oversee the selection of developers for these Independent Transmission Projects (ITPs). The BPC’s responsibilities include preparing the project profile, initiating the land acquisition process, and securing forest clearances if necessary.

The SPV will handle all preparatory activities, such as conducting surveys and reports, acquiring land, and obtaining clearances. Once the process is complete, the SPV will be transferred to the successful bidder selected through the international competitive bidding process as per the Ministry of Power’s guidelines.