PFC Consulting, a subsidiary of Power Finance Corporation, has announced the transfer of three special purpose vehicles (SPVs) to Power Grid Corporation of India.
The SPVs were established to carry out different transmission projects, with Power Grid Corporation selected as the successful bidder through a tariff-based competitive bidding process. The three transmission projects that have been transferred are Bhadla Sikar Transmission Ltd, Dharamjaigarh Transmission Ltd, and Raipur Pool Dhamtari Transmission Ltd.
Bhadla Sikar Transmission Ltd was set up to establish a transmission system strengthening scheme for the evacuation of power from solar energy zones in Rajasthan, while Dharamjaigarh Transmission Ltd and Raipur Pool Dhamtari Transmission Ltd were incorporated for the establishment of the Western Region Expansion Schemes. The transfer of the projects to Power Grid Corporation was completed on March 28, 2023.
The bidding process sought to select a transmission service provider to set up the transmission system in line with guidelines notified by the power ministry. The transfer of these SPVs is expected to help facilitate the expansion of transmission infrastructure, strengthening the country’s power sector.
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