PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation (PFC), has incorporated Satara Power Transmission Limited as a wholly owned special purpose vehicle (SPV) to facilitate the development of a transmission project supporting pumped storage potential in Maharashtra.
According to a regulatory filing, the newly incorporated SPV has been established to implement the “Network Expansion Scheme in Western Region to Cater to Pumped Storage Potential near Satara (up to 4,500 MW) – Part A.”
PFCCL has been appointed by the Ministry of Power (MoP) as the Bid Process Coordinator (BPC) for selecting a transmission service provider through the Tariff-Based Competitive Bidding (TBCB) process for independent transmission projects.
As part of its responsibilities, the BPC is required to prepare the project profile and undertake preliminary development activities, including land acquisition, surveys, preparation of project reports, and initiation of forest clearance procedures, where applicable. To carry out these activities, an SPV is incorporated before the project is offered for competitive bidding.
Following completion of the bidding process, the SPV will be transferred to the successful bidder selected through the international competitive bidding mechanism under the Ministry of Power’s TBCB guidelines for transmission services.
The Ministry of Power, through a gazette notification dated 24 March 2026, designated PFCCL as the Bid Process Coordinator for establishing the transmission system associated with the Satara pumped storage network expansion project.
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