Power Finance Corporation Powers Up Latur Transmission Project

Power Finance Corporation's arm, PFC Consulting Ltd, has formed a special purpose vehicle for the Latur transmission project. The SPV, Latur REZ Transmission Ltd, will develop a 400/220/132 kV AIS project. This is in line with the competitive bidding guidelines by the Ministry of Power.

The Power Finance Corporation (PFC) announced that its subsidiary, PFC Consulting Ltd, has created a special purpose vehicle (SPV) to spearhead the Latur transmission project. Named Latur REZ Transmission Ltd, this SPV will focus on the establishment of a significant 400/220/132 kV AIS project.

The Maharashtra State Electricity Transmission Company Ltd (MSETCL) has already issued a Letter of Intent appointing PFCCL as the Bid Process Coordinator. This appointment is part of the process to choose a Transmission Service Provider through a tariff-based competitive bidding system, as outlined by the Ministry of Power.

The special purpose vehicle has been established to handle initial stages such as project surveys, land acquisition, and forest clearance if necessary. Once these hurdles are cleared, the SPV will be handed over to the successful bidder selected via international competitive bidding.

(With inputs from agencies.)