Power Finance Corporation Limited has announced the incorporation of two Special Purpose Vehicle (SPV) companies as wholly owned subsidiaries of PFC Consulting Limited, aimed at facilitating the development of key transmission infrastructure projects in Maharashtra.
The newly incorporated entities include WESTERN GHATS PSP TRANSMISSION LIMITED and HINGOLI WEST POWER TRANSMISSION LIMITED. The first SPV has been established for the development of a 400 kV GIS Igatpuri/Murbad Switching Station in Thane district, while the second SPV will undertake the establishment of a 400 kV AIS Hingoli West substation in Hingoli district.
According to the official communication issued by PFC on May 8, 2026, PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC, has been appointed as the Bid Process Coordinator (BPC) by the Ministry of Power, Government of India, for the selection of transmission developers through tariff-based competitive bidding for Independent Transmission Projects (ITPs).
As part of its responsibilities under the tariff-based competitive bidding guidelines issued by the Ministry of Power, PFCCL is required to undertake preparatory activities for transmission projects. These activities include preparation of project profiles, initiation of land acquisition processes, and obtaining forest clearances, wherever required. For carrying out these activities, incorporation of dedicated SPVs is mandatory.
The SPVs will undertake preliminary project development activities such as surveys, report preparation, land acquisition initiation, and forest clearance procedures before being transferred to the successful bidders selected through the International Competitive Bidding Process under the Ministry of Power’s Transmission Service Guidelines.
The company further stated that the Government of Maharashtra, through its resolution dated February 27, 2026, had notified the appointment of PFCCL as the Bid Process Coordinator for these projects following the decision of the Empowered Committee during its meeting held on January 12, 2026.
