Power Finance Corporation Limited announced that the following 2 Special Purpose Vehicle (SPV's) for development of Independent Transmission Projects have been incorporated as wholly owned subsidiaries of PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited) i) BIKANER IIINEEMRANA TRANSMISSION LIMITED for development of "Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-1: Bikaner Complex) Part-A" on 08th June, 2023 ii) NEEMRANA IIBAREILLY TRANSMISSION LIMITED for development of "Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-1: Bikaner Complex) Part-D' on 08th June, 2023. PFCCL has been nominated as the Bid Process Coordinator (BPC) for selection of developer through tariff based competitive bidding for the Independent Transmission Projects (ITPs) by Ministry of Power., Government of India. As per the provisions of tariff based competitive bidding Guidelines issued by the Ministry of Power, the BPC has toprepare the project profile and initiate the process of land acquisition and forest clearance, if required.
For these activities,a Special Purpose Vehicle (SPV) is required to be incorporated which will take up various preparatory activities of the transmission projects e.g. survey and preparation of report, initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required. The SPV has to be transferred to the Successful Bidder selected through International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines for Transmission Service issued by Ministry of Power.
