en.Wedoany.com Reported - PFC Consulting Limited (PFCCL), a subsidiary of India's Power Finance Corporation (PFC), has established a special purpose vehicle (SPV), Kushtagi Transmission Limited, to develop a 765 kV transmission system in the Koppal district of Karnataka. PFCCL was previously designated as the Bid Process Coordinator (BPC) for the project, responsible for selecting developers for independent transmission projects (ITPs) managed by the Ministry of Power through tariff-based competitive bidding (TBCB) in accordance with the ministry's guidelines. The newly established SPV will oversee the early-stage construction of the project and coordinate with state government agencies.
As the Bid Process Coordinator, PFCCL's responsibilities include preparing project profiles, organizing surveys, engaging with stakeholders, and initiating land acquisition and forest clearance procedures (if necessary) in line with the Ministry of Power's guidelines, while also supervising initial regulatory filings to ensure the project is ready for bidding. These preparatory arrangements are designed to reduce execution risks for bidders and ensure that the bidding process complies with TBCB norms.
Under TBCB regulations, transmission projects require the establishment of an SPV to carry out preparatory work, with the entity being transferred to the winning bidder upon completion of the bidding process. Kushtagi Transmission Limited will undertake survey work, prepare technical and environmental reports, initiate land acquisition procedures, and submit forest clearance applications where necessary, while coordinating various approvals during the pre-bidding phase and liaising with the Koppal district authorities and other relevant agencies.
The State Empowered Committee on Transmission, at its seventh meeting held on August 29, 2025, approved PFCCL as the BPC for the development of the transmission system and decided to establish the SPV as a wholly owned subsidiary of PFCCL. During the project preparation phase, the SPV will continue to operate as a subsidiary of PFCCL and will be transferred to the international bidder selected through competitive bidding after the TBCB process concludes. This arrangement is intended to streamline the handover process and provide a structured project entity for the competitive procurement process.
