New Delhi: Power Finance Corporation Limited (PFC) has announced the transfer of three wholly owned subsidiaries of its subsidiary, PFC Consulting Limited, to their respective successful bidders. The transfers were completed on October 12, 2026, according to the company’s regulatory disclosure to the stock exchanges.
The three subsidiaries are involved in developing transmission infrastructure to evacuate renewable energy from key renewable energy zones (REZs) in Gujarat, including Jam Khambhaliya, Lakadia and Jamnagar.
Under the transactions, two subsidiaries have been transferred to Power Grid Corporation of India Limited, while the third has been transferred to AnantGrid Projects One Private Limited.
PFC Transfers Three Power Transmission Subsidiaries
The transfers cover three special purpose vehicles (SPVs) established to develop critical power transmission systems for renewable energy projects in Gujarat.
The details of the transferred subsidiaries are as follows:
- Jam Khambhaliya REZ Transmission Limited: Transferred to Power Grid Corporation of India Limited. The project involves a transmission system for integrating power from renewable energy projects in Jam Khambhaliya REZ, Gujarat, Phase II, with a capacity of 5,500 MW, and Jamnagar Phase I, with a capacity of 1,000 MW.
- Lakadia C Power Transmission Limited: Transferred to Power Grid Corporation of India Limited. The project covers Part C of the common transmission system for evacuating power from Lakadia Phase II (7.5 GW), Jam Khambhaliya Phase II (5.5 GW) and Jamnagar Phase I (1 GW).
- Lakadia A Power Transmission Limited: Transferred to AnantGrid Projects One Private Limited. The project covers Part A of the common transmission system for evacuating power from Lakadia Phase II (7.5 GW), Jam Khambhaliya Phase II (5.5 GW) and Jamnagar Phase I (1 GW).
Read also: PFC Incorporates Malegaon Power Transmission SPV Through Subsidiary PFCCL for Maharashtra Project
Transmission Projects to Support Renewable Energy Evacuation in Gujarat
The three SPVs were established to develop transmission infrastructure required to evacuate electricity generated from renewable energy projects in Gujarat’s major renewable energy zones. The projects are designed to facilitate the integration and transmission of renewable power from Lakadia, Jam Khambhaliya and Jamnagar to the wider electricity network.
Key project highlights include:
- Renewable energy integration: Supporting the transmission of electricity generated by renewable energy projects.
- Transmission capacity: Covering projects associated with Lakadia Phase II (7.5 GW), Jam Khambhaliya Phase II (5.5 GW) and Jamnagar Phase I (1 GW).
- Infrastructure development: Establishing common transmission systems to support renewable energy evacuation.
- Project implementation: Enabling the successful bidders to take forward the development of the respective transmission projects following the transfer of the SPVs.
The transfer of these subsidiaries marks the completion of the relevant bid process and allows the successful bidders to proceed with the implementation of the projects in accordance with the applicable requirements.
PFC Reports Negligible Contribution to Turnover and Net Worth
PFC stated in its regulatory disclosure that the contribution of the three SPVs to its turnover and net worth during the previous financial year was negligible.
The company made the disclosure under the applicable provisions of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The announcement formally records the transfer of the three project companies to their respective successful bidders.
About Power Finance Corporation Limited (PFC)
Power Finance Corporation Limited is a Maharatna central public sector enterprise under the Ministry of Power, Government of India. Established in 1986, PFC is a leading financial institution in India’s power sector, providing financial assistance to power generation, transmission and distribution projects. Through its subsidiary PFC Consulting Limited, the company also supports the development of power infrastructure and renewable energy transmission projects.
