Power Finance Corporation Transfers NES Dharashiv Transmission Ltd to Montecarlo Limited

New Delhi, 12 March 2026: Power Finance Corporation Limited (PFC), a government-owned financial institution in India, announced the successful transfer of its wholly owned subsidiary, NES Dharashiv Transmission Limited, to Montecarlo Limited.

NES Dharashiv Transmission Limited was initially established to develop the Network Expansion Scheme in Maharashtra for Evacuation of Renewable Energy (RE) Power from Dharashiv, Beed District. The sale was finalized on 12th March 2026, following the completion of the bidding process.

The total consideration received from the sale is Rs. 3,61,11,559 (Three Crore Sixty-One Lakh Eleven Thousand Five Hundred Fifty-Nine Only), in line with the Share Purchase Agreement. Montecarlo Limited, the successful bidder, is not part of PFC’s promoter or promoter group.

The transaction does not qualify as a related party transaction and is not considered a slump sale. The sale was executed following the guidelines issued by the Ministry of Power, Government of India, ensuring a fair and transparent process.

This strategic divestment aligns with PFC’s corporate objective of optimizing its portfolio while supporting renewable energy initiatives across India.

About Power Finance Corporation Limited:
Founded in 1986, PFC is a central public sector enterprise under the Ministry of Power, Government of India. It provides financial assistance for power sector projects and actively supports sustainable energy development.

For media inquiries, contact:
M.K. Agarwal
Company Secretary & Compliance Officer, PFC
Email: mk-agarwal@pfcindia.com