PFC Consulting incorporates SPV as wholly-owned subsidiary
NES Pune East New Transmission Ltd, a wholly owned subsidiary of PFC Consulting Ltd, has been established to oversee the development of transmission infrastructure in Maharashtra's Pune Region under the Ministry of Power's competitive bidding guidelines.
NES Pune East New Transmission has been incorporated as a wholly owned Subsidiary of PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited).
"This is to inform that the following Special Purpose Vehicle (SPV) Company has been incorporated as wholly owned subsidiary of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC): NES PUNE EAST NEW TRANSMISSION LIMITED for the development of “Network Expansion scheme in Maharashtra for removal of Transmission Constrains in Pune Region-I (765/400 kV Pune East), as per the exchange filing stated."
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Maharashtra State Electricity Transmission Company Limited (MSETCL) has placed Letter of Intent (LOI) dated 17.01.2025 appointed PFC Consulting Limited (PFCCL) as Bid Process Coordinator (BPC) for the purpose of selection of Bidder as Transmission Service Provider (TSP) to establish the abovementioned transmission system through Tariff Based Competitive Bidding Process, the filing added.
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.
The SPV has to be transferred to the Successful Bidder selected through the International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power.
Accordingly, the SPV has been incorporated as a wholly owned subsidiary of PFCCL to develop the aforementioned transmission schemes. This 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 projects.
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