New Delhi : Power Finance Corporation Limited (PFC), one of India’s leading public sector power financing companies, has announced the incorporation of two new Special Purpose Vehicle (SPV) companies through its wholly owned subsidiary, PFC Consulting Limited (PFCCL), to facilitate the development of critical intra-state transmission infrastructure projects in the state of Maharashtra.
The newly incorporated SPVs are:
- Western Ghats PSP Transmission Limited
- Hingoli West Power Transmission Limited
These entities have been established to undertake preparatory and development activities for upcoming transmission projects that will be awarded through the Tariff-Based Competitive Bidding (TBCB) mechanism under the supervision of India’s Ministry of Power.
Key Transmission Projects Planned
The SPVs will focus on the development of two major transmission schemes designed to strengthen Maharashtra’s electricity network and improve power evacuation capabilities.
The planned projects include:
- Establishment of a 400 kV GIS (Gas Insulated Substation) switching station at Igatpuri/Murbad in Thane district.
- Establishment of a 400 kV AIS (Air Insulated Substation) switching station at Hingoli West in Hingoli district.
These projects are expected to play an important role in supporting rising electricity demand, improving grid stability, and enabling smoother integration of renewable energy into the power network.
PFCCL Appointed as Bid Process Coordinator
PFCCL has been designated as the Bid Process Coordinator (BPC) by India’s Ministry of Power for both projects. As part of its responsibilities, PFCCL will oversee the complete project development and competitive bidding process before transferring the SPVs to the selected transmission developer.
PFCCL’s responsibilities include:
- Preparation of project reports and profiles
- Coordination of land acquisition activities
- Facilitation of forest and statutory clearances
- Management of the tariff-based competitive bidding process
- Selection of the successful transmission service provider
Once the bidding process is completed, ownership of the SPVs will be transferred to the successful bidder, who will then be responsible for executing, operating, and maintaining the transmission assets.
Boost to India’s Power Infrastructure Expansion
The incorporation of these SPVs highlights PFC’s ongoing role in supporting India’s rapidly expanding power infrastructure ecosystem. With electricity consumption increasing steadily and renewable energy capacity growing across the country, investments in transmission infrastructure have become critical for ensuring reliable and uninterrupted power supply.
Industry experts believe that projects such as these will help improve grid resilience, strengthen interstate and intra-state power transfer capabilities, and accelerate India’s transition toward a more sustainable and future-ready energy system.
PFC, through PFCCL, has played a significant role in implementing several transmission projects across India under the TBCB framework, helping attract private sector participation and improving efficiency in the power transmission sector.
