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)- KURNOOL IV REZ POWER TRANSMISSION LIMITED.
PFC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Power Finance Corporation (PFC) has informed the stock exchanges that a new company called Kurnool IV REZ Power Transmission Limited has been incorporated as a wholly owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly owned subsidiary of PFC. This new Special Purpose Vehicle (SPV) has been set up to handle preparatory work — like surveys, land acquisition, and forest clearances — for a 3 GW transmission system linked to the Kurnool-IV Renewable Energy Zone, Phase-II. The Ministry of Power has appointed PFCCL as the Bid Process Coordinator to run a tariff-based competitive bidding process to select a final developer. Once the bidding is done, this SPV will be handed over to the winning bidder, who will then build the transmission project.
This is a routine operational step for PFC's infrastructure consultancy arm and is unlikely to have any direct material impact on PFC's financials or stock price. The actual project will only be developed by a future winning bidder selected through competitive bidding.