PFC Incorporates SPV for Tumkur-II RE Transmission Project

Power Finance Corporation Ltd (PFC), through its wholly owned subsidiary PFC Consulting Limited (PFCCL), has established a new Special Purpose Vehicle (SPV) named Tumkur II RE Transmission Limited. The SPV will facilitate the development of a transmission system to integrate an additional 1.5 GW of renewable energy (RE) potential at Tumkur-II.

Ministry of Power Notification

The Ministry of Power (MoP) issued Gazette Notification No. CG-DL-E-21082025-265554 dated August 19, 2025, appointing PFCCL as the Bid Process Coordinator (BPC). PFCCL’s role is to oversee the selection of a Transmission Service Provider (TSP) through a Tariff-Based Competitive Bidding (TBCB) process for this project.

Role of the SPV

As per the TBCB guidelines, the BPC is responsible for preparing the project profile, initiating land acquisition, and securing forest clearances if required. To carry out these preparatory activities, the incorporation of an SPV is essential. 

Tumkur II RE Transmission Limited will handle surveys, feasibility reports, land-related procedures, and forest clearance applications.

Transfer to Successful Bidder

Once the international competitive bidding process concludes, the SPV will be transferred to the successful bidder. The winning bidder will then assume responsibility for developing, operating, and maintaining the transmission project under the tariff-based framework.

PFC Share Price Performance

On September 25, 2025, PFC share price (NSE: PFC) opened at ₹411.00 and closed at ₹404.00, down by 1.63%. The stock price touched its day’s low at ₹404.00.

Also Read: PFC Incorporates Wholly Owned Subsidiaries To Boost Power Infrastructure!

Conclusion

The incorporation of Tumkur II RE Transmission Limited reflects PFC’s commitment to facilitating renewable energy integration and strengthening India’s transmission infrastructure. By creating a dedicated SPV, PFC ensures that preparatory activities are streamlined, paving the way for efficient project execution and accelerated renewable capacity addition.

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