PFC Consulting Limited (PFCCL , a wholly owned subsidiary of Power Finance Corporation Limited, has incorporated a new special purpose vehicle (SPV) named Raigad Power Transmission Limited to implement a transmission project in Maharashtra.
The project involves the establishment of a 765/400/220 kV AIS substation at Kandalgaon in Raigad district. The SPV has been formed in response to a letter of intent (LoI) issued by Maharashtra State Electricity Transmission Company Limited, appointing PFCCL as the bid process coordinator to facilitate the selection of a transmission service provider through tariff-based competitive bidding. The SPV will undertake preparatory activities including land acquisition, forest clearance, and survey work, and will be transferred to the successful bidder upon completion of the bidding process.