Power Finance Corporation Ltd (PFC) disclosed that its wholly-owned subsidiary, PFC Consulting Limited (PFCCL), has incorporated a new Special Purpose Vehicle (SPV) company named Satara Power Transmission Limited. This SPV is a wholly-owned subsidiary of PFCCL.
The incorporation is part of the process for the 'Satara Power Transmission Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4500 MW)- Part A' project.
PFCCL was nominated as the 'Bid Process Coordinator' (BPC) for this project by the Ministry of Power, Government of India. This nomination was formally notified via a gazette notification dated 24.03.2026.
As per the Tariff Based Competitive Bidding Guidelines issued by the Ministry of Power, the BPC is required to incorporate an SPV to undertake various preparatory activities for the transmission project. The specific activities to be handled by Satara Power Transmission Limited include conducting surveys, preparing reports, initiating the land acquisition process, and seeking forest clearance if required.
Following the completion of the international competitive bidding process to select a Transmission Service Provider (TSP), the SPV will be transferred to the successful bidder. The successful bidder will then be responsible for developing the transmission project.
The disclosure was signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer of Power Finance Corporation Ltd, on 13.07.2026.