Power Finance Corporation Limited — Important, 10-01-2025: General Updates

Kudankulam ISTS Transmission Limited, a wholly owned subsidiary of Power Finance Corporation (PFC) Consulting Limited, has been successfully transferred to Power Grid Corporation of India Limited. The agreement for sale was completed with a consideration of approximately ₹7.44 crore as per the Share Purchase Agreement.

The subsidiary, established for developing a transmission system to evacuate power from Kudankulam Units 3 & 4 (2x 1000 MW), had negligible revenue contribution in the last financial year. Notably, the buyer does not belong to the promoter group, and the transaction is not classified as a related party transaction or slump sale.

This transfer aligns with PFC’s strategic realignment and might open avenues for further operational efficiencies and partnerships within the energy sector, presenting a positive outlook for stakeholders.