Power Finance Corporation has incorporated a new Special Purpose Vehicle named NERGS III Siang Basin Transmission Limited. The entity is a wholly owned subsidiary of PFC Consulting Limited, which is fully owned by PFC. The SPV will implement the NERGS III Siang Basin transmission project. The Ministry of Power issued a Gazette Notification on 18…
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…
Power Finance Corporation Ltd. (PFC) and REC Limited have announced the formation of new special purpose vehicles (SPVs) to advance key interstate power transmission projects. PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC, has incorporated Alibag Power Transmission Limited to manage preliminary work for the “Establishment of 765/400/220 kV AIS Dolvi (Dist. Raigad)”…
REC Limited and Power Finance Corporation Limited (PFC) have announced the formation of new wholly owned subsidiaries to serve as project vehicles for upcoming power transmission schemes in Karnataka, Rajasthan, and Maharashtra. REC has incorporated Kempegowda Power Transmission Limited and Barmer HVDC Power Transmission Limited as subsidiaries of REC Power Development and Consultancy Limited (RECPDCL),…
REC Limited and Power Finance Corporation Limited (PFC) have incorporated wholly-owned subsidiaries to develop transmission infrastructure for additional renewable energy (RE) capacity in Karnataka. Both companies will serve as Bid Process Coordinators (BPCs) under the Tariff Based Competitive Bidding (TBCB) framework. REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC, has formed Bellary…
Power Finance Corporation Limited (PFC) has signed a loan agreement worth about Rs 32 billion with the Japan Bank for International Cooperation (JBIC) to fund a bamboo-based bio ethanol and chemicals project in Assam. The financing will support Assam Bio Ethanol Private Limited’s second-generation plant, which will use bamboo as feedstock to produce bioethanol and…
Power Finance Corporation Ltd (PFC) has signed a loan agreement worth EUR 150 million with Germany’s KfW on August 21, 2025. The funds will be deployed under the Revamped Distribution Sector Scheme (RDSS) to improve the efficiency of state power distribution companies. The agreement extends the partnership between India and Germany in the energy sector,…
Power Finance Corporation Ltd (PFC) has announced the incorporation of SR and ER Power Transmission Limited as a wholly owned subsidiary of PFC Consulting Ltd, according to its stock exchange filing dated August 22, 2025. The special-purpose vehicle has been created for the development of the “Inter-Regional Strengthening between SR Grid and ER Grid” project….
REC Limited and Power Finance Corporation (PFC) have both posted significant profit growth for the first quarter of FY26. REC reported its highest-ever quarterly net profit of Rs 4,451 crore, marking a 29 per cent rise compared to the previous year. Disbursements for the quarter reached Rs 59,508 crore, a 36 per cent increase year-on-year….
Power Finance Corporation Ltd (PFC) has transferred its subsidiary, Angul Sundargarh Transmission Ltd, to HG Infra Engineering Ltd. Angul Sundargarh Transmission Ltd is a special purpose vehicle (SPV) for the Eastern Region Generation Scheme-I (ERGS-I), a central transmission project. The handover was completed on July 28, 2025, under a signed Share Purchase Agreement. The selection…