PFC sets up SPV for Establishment of 765/400/220 kV AIS Kandalgaon

Power Finance Corporation Limited has set up a new Special Purpose Vehicle through its wholly owned subsidiary PFC Consulting. The SPV, named Raigad Power Transmission Limited, will support the development of the project titled Establishment of 765/400/220 kV AIS Kandalgaon in Raigad district of Maharashtra.

Maharashtra State Electricity Transmission Company appointed PFC Consulting as the Bid Process Coordinator through a Letter of Intent dated August 14, 2025. The SPV will oversee preparatory work such as project surveys, land acquisition, and statutory clearances under the Ministry of Power’s Tariff Based Competitive Bidding framework.

Once the international bidding process is completed, the SPV will be transferred to the successful bidder, who will take up development of the transmission scheme.