Power Finance Corporation Limited — Important, 20-11-2024: General Updates

A wholly owned subsidiary of PFC Consulting Limited, MEL Power Transmission Limited has been incorporated to develop a transmission system for evacuating power from the Mahan Energen Limited Generating Station in Madhya Pradesh. PFC Consulting has been appointed as the Bid Process Coordinator by the Ministry of Power. The newly formed Special Purpose Vehicle (SPV) will carry out preparatory activities, including land acquisition and forest clearance, as part of the Tariff Based Competitive Bidding Process for selecting a Transmission Service Provider. Following the bidding process, the SPV will be transferred to the successful bidder, who will then oversee the project's development. This initiative highlights PFC's commitment to expanding its capabilities in energy transmission infrastructure, suggesting a strategic move to enhance operational efficiency and open new growth avenues.