PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has incorporated a new special purpose vehicle (SPV), SR and ER Power Transmission Limited for the development of the “Inter-Regional Strengthening between Southern Region (SR) Grid and Eastern Region (ER) Grid” project.
The Ministry of Power (MoP) appointed PFCCL as the bid process coordinator for selecting a transmission service provider to establish the project under the tariff-based competitive bidding (TBCB) framework. As part of the preparatory activities, the SPV will undertake tasks including project surveys, preparation of reports, land acquisition processes, and forest clearance requirements. The SPV will be transferred to the successful bidder following the completion of the international competitive bidding process, in accordance with the TBCB guidelines issued by the MoP.