Power Finance Corporation Limited — Important, 12-11-2024: General Updates

A wholly owned subsidiary of PFC Consulting Limited, Wahipora and Sallar Transmission Limited, has been incorporated to undertake the construction of a grid substation and transmission network in Kashmir. This includes the establishment of a 400/220 kV grid substation in Siot and a 220 kV substation at Bhagthali, alongside new transmission lines. Jammu and Kashmir Power Transmission Corporation Limited (JKPTCL) has granted a Letter of Award to PFC Consulting as the Bid Process Coordinator for the project. The newly formed Special Purpose Vehicle (SPV) will manage preparatory activities such as surveying and land acquisition, and will eventually be transferred to the successful bidder selected through an international competitive bidding process. This initiative positions PFC for growth in the critical energy infrastructure sector in Northern India, highlighting a positive outlook for its future contributions.