Power Finance Corporation Limited — Important, 27-12-2024: General Updates

A wholly owned subsidiary, Mundra I Transmission Limited, has been incorporated under PFC Consulting Limited to establish a transmission system for supplying power to green hydrogen and ammonia manufacturing in the Mundra area of Gujarat. This project, with a capacity of 3 GW at Navinal substation, aligns with the Ministry of Power’s initiative for competitive bidding for transmission service providers. The Special Purpose Vehicle (SPV) will engage in preparatory activities such as land acquisition and forest clearance. It will be handed over to the successful bidder selected through the bidding process for development. This strategic move supports Power Finance Corporation's growth in sustainable energy initiatives and creates potential growth opportunities for investors. Watch closely for updates on the bidding process and project developments.