Power Finance's Special Purpose Vehicle Incorporated as PFC Consulting's Unit
Power Finance's (NSE:PFC, BOM:532810) Special Purpose Vehicle Satara Power Transmission has been incorporated as a wholly-owned unit of PFC Consulting, a subsidiary of the company, according to a Monday filing. The move comes as PFC Consulting was nominated as the bid process coordinator to select a developer for independent transmission projects by Ministry of Power, Gol, through tariff-based competitive bidding. As part of the bidding guidelines, PFC Consulting will, through Satara Power Transmission, prepare the project profile and begin land acquisition and forest clearance, as and when required. The special purpose vehicle then has to be transferred to the successful bidder, according to the filing. Satara Power Transmission engages mainly in a network expansion scheme to cater to pumped storage potential of up to 4500 megawatts near Satara.
Power Finance's (NSE:PFC, BOM:532810) Special Purpose Vehicle Satara Power Transmission has been incorporated as a wholly-owned unit of PFC Consulting, a subsidiary of the company, according to a Monday filing.
The move comes as PFC Consulting was nominated as the bid process coordinator to select a developer for independent transmission projects by Ministry of Power, Gol, through tariff-based competitive bidding.
As part of the bidding guidelines, PFC Consulting will, through Satara Power Transmission, prepare the project profile and begin land acquisition and forest clearance, as and when required.
The special purpose vehicle then has to be transferred to the successful bidder, according to the filing.
Satara Power Transmission engages mainly in a network expansion scheme to cater to pumped storage potential of up to 4500 megawatts near Satara.