Kurnool IV REZ Power Transmission gets incorporated as subsidiary of PFC Consulting

A Special Purpose Vehicle (SPV) Company named as Kurnool IV REZ Power Transmission Ltd has been incorporated as wholly owned subsidiaries of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC).

The SPV is developed for the “Transmission System for Kurnool-IV REZ -Phase-II (3 GW)”.

Earlier, the PFC Consulting Limited (PFCCL) had been appointed as Bid Process Coordinator (BPC) for the purpose of selection of Bidder as Transmission Service Provider (TSP) to establish the transmission system through Tariff Based Competitive Bidding Process.

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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 will 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.

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The SPV have to be transferred to the Successful Bidder selected through International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines for Transmission Service issued by Ministry of Power, the company stated in an exchange filling.

The SPV will be transferred to the successful bidder after the completion of the bidding process. The successful bidder selected through the bidding process would develop the project.

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