Incorporation of a wholly owned Subsidiary of PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited)- FATEHGARH II TRANSMISSION LIMITED
PFC · price
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Power Finance Corporation (PFC) has announced that its wholly owned subsidiary PFC Consulting Limited (PFCCL) has incorporated a new Special Purpose Vehicle (SPV) named 'Fatehgarh II Transmission Limited'. This SPV has been created for a transmission project involving the installation of 2 Synchronous Condenser units at the 765/400/220 kV Fatehgarh-II substation. PFCCL was nominated as the Bid Process Coordinator by the Ministry of Power and will transfer this SPV to the successful bidder after a tariff-based competitive bidding process. This is standard practice for Independent Transmission Projects under government guidelines, where the SPV handles preparatory work before being handed over to the project developer.
This is a routine administrative filing with no direct impact on PFC's financials or shareholder value. The SPV will be sold to a successful bidder, which is a standard transmission sector practice under competitive bidding guidelines.