Incorporation of two wholly owned Subsidiaries of PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited)- (1)WESTERN GHATS PSP TRANSMISSION LIMITED (2) HINGOLI WEST POWER TRANSMISSION LIMITED
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Power Finance Corporation Limited has announced that its wholly owned subsidiary PFC Consulting Limited has incorporated two Special Purpose Vehicle (SPV) companies for transmission projects. The first SPV, Western Ghats PSP Transmission Limited, will establish a 400 kV GIS switching station in Igatpuri/Murbad (Thane district). The second SPV, Hingoli West Power Transmission Limited, will establish a 400 kV AIS substation in Hingoli district. PFCCL has been appointed as Bid Process Coordinator by the Government of Maharashtra for these Independent Transmission Projects. These SPVs will handle preparatory activities like land acquisition and forest clearance before being transferred to the successful bidder selected through competitive bidding.
This is a routine administrative filing that does not directly impact shareholders as the SPVs are temporary entities created for project preparation and will be transferred to successful bidders. No material impact on PFC's financials or stock expected.