Power Finance Corporation Sets Up SPV for Anantapur II REZ Transmission Project

Power Finance Corporation Limited (PFC) announced the establishment of a Special Purpose Vehicle (SPV) company, which has been incorporated as a wholly-owned subsidiary of PFC Consulting Limited (PFCCL), a subsidiary of PFC.

Purpose of the SPV

This SPV is set to focus on developing the transmission system for the “Transmission System for Integration of Anantapur-11 REZ – Phase-I (for 4.5 GW)”. The project is aimed at strengthening the transmission infrastructure to support renewable energy generation in the Anantapur region, which has become a major hub for renewable energy projects in India.

Collaboration with the Ministry of Power

The Ministry of Power (MoP), through a Gazette Notification (No. CG-DL-E-13092024-257122) dated September 12, 2024, appointed PFCCL as the Bid Process Coordinator (BPC) for selecting a Transmission Service Provider (TSP) to establish the transmission system.

As part of the process, the BPC is tasked with preparing the project profile and facilitating critical preparatory activities such as land acquisition, forest clearance, and initial surveys.

The SPV will oversee these preliminary steps, ensuring that all the required groundwork is completed before the transmission system project moves to the next phase. Once these activities are completed, the SPV will be transferred to the successful bidder who will be chosen through an International Competitive Bidding Process under the Ministry of Power’s Tariff-Based Competitive Bidding Guidelines.

The completion of this project is expected to play a key role in supporting India’s renewable energy ambitions, contributing to the efficient integration of renewable energy sources in the national grid.

On January 8, 2025, Power Finance Corporation share price opened at ₹446.30, touching the day’s low at ₹436.50, as of 10:20 AM on the NSE.

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