PFC Sets Up SPV To Develop Wagdari Transmission System

Power Finance Corp. Ltd. on Saturday said Wagdari Transmission Ltd. has been incorporated as a wholly-owned subsidiary of PFC Consulting Ltd. to develop a 400/220 kilovolt transmission system in Wagdari, Maharashtra. PFC Consulting is a fully owned unit of Power Finance Corp.

The incorporation follows PFC Consulting’s nomination as the bid process coordinator by the Ministry of Power. Under the ministry's guidelines, the coordinator is responsible for preparing the project profile and initiating processes such as land acquisition and forest clearance, if required.

The newly formed special purpose vehicle will handle various preparatory tasks, including surveys, report preparation, and acquisition of land, the company said in an exchange filing.