PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has incorporated Kushtagi Transmission Limited as a wholly owned special purpose vehicle (SPV) to facilitate the development of a 765 kV Kushtagi–III transmission system in Karnataka’s Koppal district.
According to a regulatory filing by PFC, the newly incorporated SPV has been established to undertake preparatory activities for the transmission project, including project surveys, preparation of project reports, and initiation of land acquisition and forest clearance processes, where required.
PFCCL has been nominated as the Bid Process Coordinator (BPC) by the Ministry of Power for selecting a developer for the independent transmission project through the Tariff-Based Competitive Bidding (TBCB) process. As part of its responsibilities, the BPC is required to prepare the project profile and oversee preliminary development activities before the project is awarded.
The company stated that, in accordance with the TBCB guidelines, the SPV will subsequently be transferred to the successful bidder selected through the international competitive bidding process.
The filing further noted that the State Empowered Committee on Transmission ratified the nomination of PFCCL as the Bid Process Coordinator during its seventh meeting held on 29 August 2025. The nomination was subsequently approved by Karnataka’s Energy Department through a Government Order dated 18 October 2025.
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