PFC Transfers South Kalamb Transmission SPV To Adani Energy Solutions For ₹12.53 Crore

Power Finance Corporation Limited (PFC) has announced the successful transfer of its step-down subsidiary, South Kalamb Power Transmission Limited, to Adani Energy Solutions Limited. The transaction was completed on March 30, 2026, after a competitive bidding process in which Adani Energy Solutions emerged as the winning bidder.

South Kalamb Power Transmission Limited was set up as a Special Purpose Vehicle (SPV) to support the development of the “Network Expansion Scheme for the drawal of power at South Kalamb substation: Part A.” Before the transfer, the SPV operated as a wholly owned subsidiary of PFC Consulting Limited, which is itself fully owned by PFC.

As per regulatory filings submitted to the National Stock Exchange of India and BSE Limited, the total consideration for the transaction stood at ₹12.53 crore. The valuation was finalized in line with the Share Purchase Agreement and follows the guidelines issued by the Ministry of Power, Government of India.

PFC stated that the financial impact of this subsidiary on its overall business remains minimal. The company noted that the SPV had a negligible contribution to its turnover, revenue, and net worth in the previous financial year. It also clarified that Adani Energy Solutions is not part of its promoter or promoter group, ensuring that the deal does not fall under related party transactions. Additionally, the transaction has not been categorized as a slump sale.

The completion of this transfer brings the sale process for this transmission project to a close. The disclosure was formally signed by Company Secretary and Compliance Officer Manish Kumar Agarwal, confirming that all regulatory requirements and public disclosure norms have been duly followed.