Power Finance Corporation Strikes Off Subsidiary SIPCL: Key Details

New Delhi, 12 March 2026: Power Finance Corporation Limited (PFC), a Government of India undertaking, has officially confirmed the strike off and dissolution of its wholly owned subsidiary, Sakhigopal Integrated Power Company Limited (SIPCL). The company was formally removed from the registrar of companies with effect from 9 March 2026 under Section 248 of the Companies Act, 2013.

Background of SIPCL

SIPCL was incorporated on 21 May 2008 as a Special Purpose Vehicle (SPV) to facilitate the establishment of a 4,000 MW Ultra Mega Power Project in Odisha. The project was planned to contribute significantly to India’s power generation capacity.

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However, after strategic review, the Ministry of Power, Government of India, approved the closure and strike-off of SIPCL on 27 November 2025. Following regulatory procedures, all necessary documents were filed with the Ministry of Corporate Affairs (MCA), leading to the official dissolution in March 2026.

PFC Statement

PFC emphasized that SIPCL was not a material subsidiary, and its closure will not affect PFC’s core operations or financial stability. The decision reflects PFC’s ongoing strategy to streamline its portfolio and focus on its primary mandate of financing power sector projects across India.

About Power Finance Corporation

Power Finance Corporation Limited is a leading financial institution under the Government of India, primarily engaged in financing power sector projects across the country. Headquartered in New Delhi, PFC plays a key role in India’s energy infrastructure financing and has consistently supported initiatives to expand electricity access nationwide.