PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has incorporated Malegaon Power Transmission Limited as a wholly owned Special Purpose Vehicle (SPV) for the establishment of a 400/220 kV Malegaon (Saundane) Substation in Nashik district, Maharashtra.
The newly incorporated SPV has been established to undertake preparatory activities associated with the transmission project, including surveys and preparation of project-related reports, as well as initiating land acquisition and forest clearance processes, wherever required.
PFCCL has been nominated as the Bid Process Coordinator (BPC) for the selection of a developer for the transmission project through the tariff-based competitive bidding process. Under the applicable bidding framework, the SPV will subsequently be transferred to the successful bidder selected through the competitive bidding process.
The State Empowered Committee on Transmission nominated PFCCL as the BPC for development of the transmission system through the tariff-based competitive bidding process at its 10th meeting held on 12 May 2026. The Government of Maharashtra subsequently conveyed its approval on 10 July 2026.
The incorporation of Malegaon Power Transmission Limited marks the formation of the dedicated project vehicle for taking forward the development of the proposed transmission infrastructure in Maharashtra.
