Date: 04.11.2026

Subsidiary Incorporation Details

PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has incorporated a new Special Purpose Vehicle (SPV) company named "Siot Rajouri Akhnoor Transmission Limited" as its wholly owned subsidiary.

Project Purpose and Scope

The SPV has been established for the development of "Laying of downstream Transmission Network from upcoming 400/220 kV Grid Substation Siot, Rajouri (ISTS)". This transmission project falls under the category of Independent Transmission Projects (ITPs).

Regulatory Context and Appointment

PFCCL has been nominated as the 'Bid Process Coordinator' (BPC) for selection of developer through tariff based competitive bidding for the Independent Transmission Projects by Ministry of Power, Government of India. This appointment follows the tariff-based competitive bidding Guidelines issued by the Ministry of Power.

SPV Functions and Responsibilities

The SPV will undertake various preparatory activities for the transmission project including:

  • Survey and preparation of report
  • Initialization of the process of acquisition of land
  • Initiation of the process of seeking forest clearance (if required)

Transfer Process

The SPV will be transferred to the Successful Bidder selected through International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines after the completion of the bidding process.

Background and Restructuring

Jammu and Kashmir Power Transmission Corporation Limited (JKPTCL) initially appointed PFCCL as Bid Process Coordinator via Letter of Award dated July 23, 2024, for the transmission scheme "Execution of System Strengthening/Upgradation Works and Intra-State Transmission System Projects". For this purpose, PFCCL had incorporated "Wahipora and Sallar Transmission Limited" on November 11, 2024.

Following a meeting between JKPTCL and PFCCL officials on May 21, 2026, the transmission scheme was restructured from a single package to multiple packages. This restructuring was approved and communicated via JKPTCL letters no. MD/JKPTCL/TO/284-86 dated June 04, 2026, and Letter No. MD/JKPTCL/TO/446-47 dated July 08, 2026.

Current Appointment

JKPTCL has reappointed PFC Consulting Limited (PFCCL) as the Bid Process Coordinator (BPC) to re-initiate the bid process for the development of the project through the Tariff-Based Competitive Bidding (TBCB) route.