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Navinal Transmission incorporated as subsidiary of PFC Consulting

Monday, 08 Apr 2024
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Navinal Transmission, a special purpose vehicle (SPV) company has been incorporated as a wholly-owned subsidiary of PFC Consulting (PFCCL). The incorporation is for development of 'network expansion scheme in Navinal (Mundra) area of Gujarat for drawal of power in the area'.

PFCCL, which is a wholly-owned subsidiary of Power Finance Corporation has been nominated as the bid process coordinator (BPC) for selection of developer for independent transmission projects (ITPs) by the Ministry of Power (MoP), GoI. As per tariff-based competitive bidding (TBCB) guidelines issued by MoP, the BPC has to prepare the project profile, and initiate the land acquisition process. For these activities, a SPV is required to be incorporated which will undertake, for instance, survey and preparation of report, initialisation of the process of acquisition of land, and also initiate the process of seeking forest clearance.

The SPV has to be transferred to the successful bidder selected through international competitive bidding process under TBCB guidelines for transmission service. This SPV will be transferred to the successful bidder after the completion of the bidding process.

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