Power Finance Corporation’s consulting subsidiary has taken a strategic step to advance critical power transmission infrastructure in Maharashtra by incorporating a new special purpose vehicle (SPV) for the proposed Latur transmission project. 
PFC Consulting Ltd (PFCCL), a wholly owned subsidiary of Power Finance Corporation (PFC), has formally established Latur REZ Transmission Ltd. The SPV has been formed to oversee the preparatory and implementation activities for a high-voltage transmission system in the Latur region, supporting the development of a 400/220/132 kV AIS (Air Insulated Substation) project. 
The incorporation follows a Letter of Intent (LOI) issued by the Maharashtra State Electricity Transmission Company Ltd (MSETCL) in August 2025, which designated PFCCL as the Bid Process Coordinator (BPC) for this scheme. Under this role, PFCCL will manage the process of selecting a transmission service provider through a tariff-based competitive bidding framework under guidelines set by the Ministry of Power. 
As the bid process coordinator, PFCCL must prepare detailed project documentation and initiate key foundational tasks such as land surveys, environmental clearances, and any required forest or regulatory approvals. Establishing an SPV enables these preparatory activities to proceed methodically and in accordance with statutory and competitive bidding requirements. 
Once the competitive bidding concludes and a transmission service provider is selected, the SPV will be transferred to the winning bidder, who will then take forward construction and commissioning of the transmission infrastructure. 
Industry experts say forming project-specific SPVs is standard practice for large transmission schemes, helping to streamline planning and regulatory processes while ensuring transparent execution. The Latur project is expected to reinforce grid connectivity in the region and support Maharashtra’s growing electricity demand. 
