Power Finance Corporation Limited (PFC), a leading PSU under the Ministry of Power, has announced the incorporation of Wagdari Transmission Limited, a Special Purpose Vehicle (SPV) formed through its wholly owned subsidiary, PFC Consulting Limited (PFCCL). The SPV will spearhead the development of a 400/220 kV transmission substation at Wagdari, located in Maharashtra’s Solapur district.
This move follows a Letter of Intent (LOI) issued by the Maharashtra State Electricity Transmission Company Limited (MSETCL) on March 19, 2025, appointing PFCCL as the Bid Process Coordinator (BPC) for implementing the project under the Tariff Based Competitive Bidding (TBCB) framework. As per guidelines issued by the Ministry of Power, PFCCL, as BPC, will handle all preparatory responsibilities, including field surveys, project reporting, land acquisition, and obtaining necessary forest clearances.
After the successful completion of the international competitive bidding process, the SPV will be handed over to the selected Transmission Service Provider (TSP), who will then carry out the execution of the substation project.
The establishment of Wagdari Transmission Limited reflects PFC’s continued commitment to enhancing India’s power transmission infrastructure and improving access to reliable electricity in key growth regions across the country.
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.
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