Date: 23.10.2026

Corporate Structure Update

Power Finance Corporation Limited (PFC) has announced the incorporation of two Special Purpose Vehicle (SPV) companies as wholly owned subsidiaries of PFC Consulting Limited (PFCCL), which is itself a wholly owned subsidiary of Power Finance Corporation Limited.

New Subsidiary Details

Two SPV companies have been incorporated:

  • Solapur SEZ Power Transmission Limited - Purpose: Transmission System for Evacuation of Power from RE Projects in Solapur SEZ (Phase-II: 2 GW) and Network Expansion Scheme to Enable Drawl of Power from Solapur PS
  • Karur REZ Power Transmission Limited - Purpose: Transmission System Strengthening at Karur PS for Integration of RE Generation Capacity

Regulatory Context and Process

PFC Consulting Limited has been nominated as the 'Bid Process Coordinator' (BPC) by the Ministry of Power, Government of India for selection of developers through tariff-based competitive bidding for Independent Transmission projects (ITPs).

Basis for Nomination

The Central Electricity Authority (CEA), Ministry of Power, vide File No. CEA-PS-12-13/3/2019-PSPA-II Division part (1) 1/67445/2026 dated 20.07.2026, intimated that the National Committee on Transmission (NCT) in its 42nd meeting held on 07.07.2026 nominated PFC Consulting Limited as the Bid Process Coordinator for development of these transmission schemes through the Tariff Based Competitive Bidding process.

SPV Purpose and Transfer Process

As per tariff-based competitive bidding Guidelines issued by the Ministry of Power, the BPC must prepare the project profile and initiate land acquisition and forest clearance processes. The SPVs will undertake various preparatory activities including survey and report preparation, initiation of land acquisition process, and seeking forest clearance if required.

Both SPVs will be transferred to the Successful Bidder selected through International Competitive Bidding process under Tariff Based Competitive Bidding Guidelines. The successful bidder will then develop the projects.

Financial Results

Not Specified

Dividend Declaration

Not Specified

KMP / Board Changes

Not Specified

Disinvestment / Strategic Actions

Not Specified