Power Finance Corporation Limited (PFC) has announced the incorporation of Kadapa II REZ Transmission Limited, a special purpose vehicle (SPV) established as a wholly owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly owned subsidiary of PFC. The newly incorporated company will facilitate the development of the transmission system required for integrating Kadapa II Renewable Energy Zone (REZ), Phase-I.
The Ministry of Power, Government of India, has appointed PFCCL as the Bid Process Coordinator (BPC) for selecting a transmission project developer through the Tariff Based Competitive Bidding (TBCB) process. The appointment aims to support the development of the required transmission infrastructure and enable the integration of renewable energy generated in the region into the electricity network.
According to the company’s disclosure, the Central Electricity Authority (CEA), under the Ministry of Power, informed PFCCL through a communication dated July 20, 2026, that the National Committee on Transmission (NCT) had approved the nomination at its 42nd meeting held on July 7, 2026. Following the approval, PFCCL was designated to undertake the development of the transmission scheme under the competitive bidding framework.
As part of the preparatory process, the newly formed SPV will undertake activities required before the project is transferred to the selected developer. These activities include conducting surveys, preparing project reports, initiating land acquisition procedures and seeking forest clearances wherever necessary. Establishing a dedicated SPV will help streamline these preliminary development activities and prepare the project for implementation.
After completing the required preparatory work and regulatory formalities, Kadapa II REZ Transmission Limited will be transferred to the successful bidder selected through an international competitive bidding process. The selected developer will then be responsible for constructing and operating the transmission project.
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