PFC transfers Wagdari transmission SPV to KCC Buildcon
Author: PPD Team Date: March 30, 2026
Power Finance Corporation Limited (PFC) has completed the transfer of its wholly owned subsidiary Wagdari Transmission Limited to KCC Buildcon Private Limited, the successful bidder under the tariff-based competitive bidding (TBCB) process. The transfer was completed on March 27, 2026.
The transaction was executed through PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC, which held the special purpose vehicle (SPV) prior to the transfer.
Project scope and bidding process
Wagdari Transmission Limited was incorporated for the development of the interstate transmission project titled “Transmission Scheme for Establishment of 400/220 kV AIS Wagdari (District Solapur).” The scheme was awarded through the TBCB route.
PFCCL issued request for proposal (RFP) documents for the project on August 6, 2025, and opened technical bids on December 10, 2025. Six bidders qualified for the project, including Adani Energy Solutions Limited, KCC Buildcon Limited, Maharashtra State Electricity Transmission Company Limited, Sakhigopal lo Limited, Power Grid Corporation of India Limited, and Resonia Limited.
The share purchase agreement was executed on March 27, 2026 for a consideration of Rs 4,41,10,826. PFC stated that KCC Buildcon Private Limited does not belong to its promoter or promoter group. The transaction is not classified as a related party transaction and is not in the nature of a slump sale.
KCC Buildcon, headquartered in Gurugram, was incorporated in 2009 as a successor to Kundu Construction Company, a partnership firm established in 1999. The company’s primary business is road and highway construction, making this transmission project its first foray into power transmission development.
The featured photograph is for representation only.