PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has incorporated a new special purpose vehicle (SPV) for the development of a transmission project in Maharashtra.
The SPV, Saswad Transmission Limited, has been formed for the development of a 400/220 kV substation at Saswad in Pune district. The project is being undertaken following the letter of intent issued by Maharashtra State Electricity Transmission Company Limited, appointing PFCCL as the bid process coordinator for selection of the transmission service provider through the tariff-based competitive bidding process. The SPV will undertake preparatory activities such as project profiling, surveys, land acquisition, forest clearance, and report preparation. Upon completion of the bidding process, the SPV will be transferred to the successful bidder for project execution.