State-run Power Finance Corporation Limited (PFC) has announced the incorporation of a Special Purpose Vehicle (SPV) named Kurnool IV REZ Power Transmission Limited through its wholly owned subsidiary, PFC Consulting Limited (PFCCL). This new SPV has been created to facilitate the development of the “Transmission System for Kurnool-IV REZ – Phase-II (3 GW)”.
The initiative aligns with Gazette Notification No. CG-DL-E-30032025-262168 issued by the Ministry of Power (MoP) on March 27, 2025, which designated PFCCL as the Bid Process Coordinator (BPC) for the project. The transmission system will be implemented under the Tariff Based Competitive Bidding (TBCB) mechanism.
As per TBCB guidelines, the BPC is responsible for all preparatory tasks including project profiling, initiating land acquisition, conducting surveys, and processing forest clearances, where applicable. These responsibilities will be managed by the newly formed SPV.
Following the successful conclusion of the international competitive bidding process, the SPV will be handed over to the selected Transmission Service Provider (TSP), who will take charge of executing the transmission project.
PFC
Power Finance Corporation Ltd. is an Indian public sector company engaged in infrastructure finance activities. Established in 1986, it provides financing for the Indian power sector and is under the administrative control of the Ministry of Power, Government of India. PFC was categorised as “Maharatna” enterprise on October 12, 2021.
