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Power Finance's Special Purpose Vehicle Incorporated as PFC Consulting's Unit

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Power Finance (NSE:PFC, BOM:532810) said Special Purpose Vehicle Kushtagi Transmission has been incorporated as a wholly-owned unit of PFC Consulting, a subsidiary of the company, according to a Monday Indian bourse filing.

The move came as PFC Consulting was nominated as the bid process coordinator to select a developer for independent transmission projects by the Ministry of Power, Gol, through tariff-based competitive bidding.

As part of the bidding guidelines, PFC Consulting will, through Kushtagi 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.

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