Power Finance Corporation (PFC) has announced the incorporation of Northern Region Power Transmission Limited as a wholly owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly owned subsidiary of PFC. The special purpose vehicle (SPV) has been established for addressing the static and dynamic compensation requirements of the Northern Region Grid.
According to PFC’s regulatory filing dated October 22, 2026, PFC Consulting Limited has been nominated as the Bid Process Coordinator (BPC) for selecting a developer through the tariff-based competitive bidding process for the Independent Transmission Project (ITP).
The Ministry of Power’s tariff-based competitive bidding guidelines require the BPC to prepare the project profile and initiate land acquisition and forest clearance processes, wherever required. For these preparatory activities, a special purpose vehicle is incorporated to undertake activities such as conducting surveys, preparing reports, initiating land acquisition procedures and seeking forest clearances, if necessary.
The SPV is to be transferred to the successful bidder selected through the International Competitive Bidding process under the Tariff-Based Competitive Bidding Guidelines.
The Central Electricity Authority (CEA), Ministry of Power, through its communication dated July 20, 2026, informed that the National Committee on Transmission (NCT), at its 42nd meeting held on July 7, 2026, had nominated PFC Consulting Limited as the Bid Process Coordinator for developing the transmission scheme through the Tariff-Based Competitive Bidding (TBCB) process.
