PFC Consulting Limited (PFCL), a wholly owned subsidiary of Power Finance Corporation Limited, has announced the incorporation of a new special purpose vehicle (SPV) named Raigad Power Transmission Limited to execute a key transmission infrastructure project in Maharashtra. The formation of the SPV marks a critical step toward advancing high-capacity power evacuation and strengthening grid reliability in the state.
The upcoming project involves the development of a 765/400/220 kV air-insulated substation (AIS) at Kandalgaon in Raigad district. This substation is expected to play an important role in supporting Maharashtra’s growing power demand, improving regional load management, and integrating upcoming generation sources more efficiently into the grid.
The creation of the SPV follows a letter of intent (LoI) issued by the Maharashtra State Electricity Transmission Company Limited (MSETCL). Under the LoI, PFCL has been appointed as the bid process coordinator responsible for managing the tariff-based competitive bidding process to select an appropriate transmission service provider for the project.
As part of its mandate, Raigad Power Transmission Limited will carry out essential preparatory activities such as land acquisition, forest clearances, route surveys, and initial project planning, ensuring that all groundwork is completed ahead of the final bidding. Once the competitive bidding process is concluded, the SPV will be transferred to the selected transmission developer for project execution and long-term operation.
The establishment of this SPV further reinforces PFCL’s role as a key facilitator in India’s electricity transmission framework and supports ongoing efforts to enhance the national grid through structured, transparent, and competitive project development.
