PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has incorporated two new special purpose vehicles (SPVs) for the development of interstate transmission systems in Maharashtra and Andhra Pradesh.
The first SPV, Waghdari Transmission Limited, has been incorporated for the development of a 400/220 kV substation at Waghdari in Solapur district, Maharashtra. The second SPV, Kurnool IV REZ power transmission Limited, will be responsible for implementing the transmission system for Kurnool-IV REZ – phase-II (3 GW) in Andhra Pradesh. Both SPVs have been set up to carry out preparatory activities such as project profiling, land acquisition, forest clearance, surveys, and report preparation. Upon conclusion of the bidding process, the SPVs will be transferred to the successful bidders, who will be responsible for project execution.