Power Finance Corporation Limited (PFC) has informed the stock exchanges that PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC, has incorporated Kushtagi Transmission Limited as its wholly owned subsidiary. The Special Purpose Vehicle (SPV) has been formed for the development of the Transmission system for 765 kV Kushtagi in Koppal District.
PFCCL has been nominated by the Ministry of Power, Government of India, as the Bid Process Coordinator (BPC) for the selection of a developer through the Tariff-Based Competitive Bidding (TBCB) process for Independent Transmission Projects (ITPs).
In accordance with the provisions of the Tariff-Based Competitive Bidding Guidelines issued by the Ministry of Power, the BPC is responsible for preparing the project profile and initiating the processes for land acquisition and forest clearance, wherever required. To undertake these preparatory activities, an SPV is incorporated for the transmission project.
The SPV will carry out preliminary activities including project surveys, preparation of reports, initiation of land acquisition proceedings, and the process of obtaining forest clearance, if required. Following the completion of the competitive bidding process, the SPV will be transferred to the successful bidder selected through the International Competitive Bidding process under the Tariff-Based Competitive Bidding Guidelines.
PFC further stated that the State Empowered Committee on Transmission, in its 7th meeting held on August 29, 2025, ratified the nomination of PFCCL by the Karnataka Power Transmission Corporation Limited (KPTCL) as the Bid Process Coordinator for the development of the transmission system through the TBCB process. The nomination was also approved by the Energy Department, Government of Karnataka
