PFC Pushes for Green Energy with New Transmission Project

Power Finance Corporation's arm, PFC Consulting, establishes a special purpose vehicle to develop an electricity transmission system in Gujarat's Mundra area. The project aims to supply power for green hydrogen and ammonia manufacturing. A bidding process will select the transmission service provider.

The state-owned Power Finance Corporation has announced that its subsidiary, PFC Consulting, has established a special purpose vehicle to lay the groundwork for an electricity transmission system. The initiative aims to bolster the supply of electricity to green hydrogen and ammonia production in Gujarat's Mundra region.

According to a regulatory filing, Mundra I Transmission Ltd has been shouldered with the responsibility of setting up the project. This strategic move aligns with efforts to support green energy initiatives in the region.

PFC Consulting Ltd has been tasked as the bid process coordinator to appoint a Transmission Service Provider via a tariff-based competitive bidding system. The new special purpose vehicle is currently a wholly owned subsidiary of PFCCL and is slated to be transferred to the successful bidder upon completion of the bidding process.

(With inputs from agencies.)