PFC Consulting Transfers Solapur Transmission SPV to Torrent Power

New Delhi: ‘PFC Consulting Limited’, a wholly-owned subsidiary of Power Finance Corporation Limited, a Maharatna CPSE, has transferred a transmission project-specific Special Purpose Vehicle (SPV) ‘Solapur Transmission Limited’ to ‘Torrent Power Limited’, the successful bidder, on March 20, 2024.

The SPV was transferred in the presence of Shri Manoj Rana, CEO, PFCCL, Shri Sudhir Prasad, Executive Director, Torrent Power Limited & other Senior Officials of PFC Consulting Limited & Torrent Power Limited.
 

Read Also : T. Rabi Sankar re appointed as Deputy Governor of RBI

The selection of a successful bidder was carried out through Tariff Based Competitive Bidding (TBCB) process for the selection of a Transmission Service Provider for the establishment of a transmission system in line with the Guidelines notified by the Ministry of Power, Government of India. 

Shri Manoj Rana, CEO, PFCCL, Shri Sudhir Prasad, Executive Director, Torrent Power Limited & other Senior Officials of PFC Consulting Limited & Torrent Power Limited during the MoA exchange ceremony.

Read Also : Yes Bank Announces Financial Results for the Q4FY24

Project Details:

The SPV ‘Solapur Transmission Limited’ was incorporated for the establishment of a ‘Transmission system for evacuation of power from RE projects in Solapur (1500 MW) SEZ in Maharashtra’. The scope of work involves the Establishment of a 400/220 kV Substation at Solapur and Solapur PS– Solapur (PG) 400 kV D/c line and other associated elements.

Read Also : State Bank of India partners with HCL Software to digitally transform customer engagement