Power Finance Corporation Limited has informed the Exchange about INCORPORATION OF WHOLLY OWNED SUBSIDIARY OF PFC CONSULTING LIMITED (A WHOLLY OWNED SUBSIDIARY OF POWER FINANCE CORPORATION LIMITED)- (I) WAGDARI TRANSMISSION LIMITED.
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Power Finance Corporation (PFC) has informed the exchange that its wholly owned subsidiary, PFC Consulting Limited (PFCCL), has incorporated a new Special Purpose Vehicle (SPV) called Wagdari Transmission Limited. The SPV has been set up for the development of a 400/220 kV transmission system at Wagdari in Solapur district, Maharashtra. Maharashtra State Electricity Transmission Company Limited (MSETCL) had appointed PFCCL as the Bid Process Coordinator for selecting a Transmission Service Provider through tariff-based competitive bidding. The newly formed SPV will handle preparatory activities such as land acquisition and forest clearance, and will later be transferred to the successful bidder selected via international competitive bidding.
This is a routine operational disclosure with no direct material impact on PFC's financials or shareholders. The SPV is a pass-through entity for a transmission project and will be handed over to the winning bidder, so it does not add any meaningful asset or revenue to PFC's books. Investors should view this as standard procedural activity in PFC's transmission advisory business.