Power Finance Corporation Ltd (PFC) announced the incorporation of Benchigere Transmission Limited as a wholly-owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly-owned subsidiary of PFC.
The Special Purpose Vehicle (SPV) was incorporated for the specific purpose of developing a 400kV transmission system in the Tumakuru District of Karnataka.
PFC Consulting Limited has been nominated as the 'Bid Process Coordinator' (BPC) by the Ministry of Power, Government of India for the selection of a developer through tariff-based competitive bidding for Independent Transmission Projects (ITPs).
As per the 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 incorporated SPV will undertake various preparatory activities including survey and report preparation, initiation of land acquisition, and seeking forest clearance if required.
The incorporation follows formal approvals:
- The State Empowered Committee on Transmission ratified the action of Karnataka Power Transmission Corporation Limited (KPTCL) nominating PFCCL as BPC in its 07th Meeting held on 29.08.2025
- The Energy Department conveyed its approval via Government Order No. Energy 73 PPT 2024, Bengaluru dated 18.10.2025
The SPV will be transferred to the successful bidder selected through the International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines after the completion of the bidding process. The successful bidder will then develop the project.
This disclosure is submitted for information and record purposes to the National Stock Exchange of India Limited and BSE Limited.