SPVs of Power Finance Corporation to be incorporated as subsidiaries

SPVs of Power Finance Corporation to be incorporated as subsidiaries

Special Purpose Vehicles of Power Finance Corporation has been incorporated as wholly owned subsidiaries of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC) namely, Chitradurga Bellary Rez Transmission Limited, Bijapur Rez Transmission Limited and Kudankulam ISTS Transmission Limited.

 Chitradurga Bellary Rez Transmission Limited for the development of the Transmission Scheme for integration of Davanagere / Chitradurga REZ and Bellary REZ in Karnataka.

  Bijapur Rez Transmission Limited for the development of the Transmission Scheme for integration of Bijapur REZ in Karnataka.

  Kudankulam ISTS Transmission Limited For the development of “Transmission System under ISTS for evacuation of power from Kudankulam Unit - 3 & 4 (2x1000 MW)”.

 

 

 

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PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited) has been nominated as the ‘Bid Process Coordinator’ (BPC) for the selection of developer through tariff-based competitive bidding for the Independent Transmission Projects (ITPs) by the Ministry of Power, GoI, as per the regulatory filing.

As per the provisions of tariff based competitive bidding Guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required. For these activities, a Special Purpose Vehicle (SPV) is required to be incorporated which take up various preparatory activities of the transmission projects e.g. survey and preparation of report, initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required, it added.

 

 

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The SPV has to be transferred to the Successful Bidder selected through the International Competitive Bidding Process under the Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power National Stock Exchange of India Limited

 Ministry of Power has appointed PFC Consulting Limited (PFCCL) to be the Bid Process Coordinator (BPC) for the selection of a Bidder as Transmission Service Provider (TSP) to establish the following transmission system through Tariff a competitive Bidding Process:

Transmission Scheme for integration of Davanagere / Chitradurga REZ and Bellary REZ in Karnataka. Transmission Scheme for integration of Bijapur REZ in Karnataka and the Transmission System under ISTS for evacuation of power from Kudankulam Unit - 3 & 4 (2x1000 MW).

The SPVs mentioned above have been set up as wholly owned subsidiaries of PFCCL to work on the transmission schemes mentioned. These SPVs will be transferred to the successful bidders once the bidding process is complete. The successful bidders chosen through the bidding process will be responsible for developing the projects.

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