The SPV company is incorporated for developing the intra-state transmission system consisting of 400/220/132/33 KV SS at Gola-B along with associated transmission lines and 220/33 KV SS at Ramgarh along with associated transmission line under Package -B (Jharkhand) for DVC.

The company said that PFC Consulting has been nominated as the bid process coordinator (BPC) for selection of developer through tariff based competitive bidding for the Independent transmission projects (ITPs) by Ministry of Power, Government of India (GOI).

The SPV has to be transferred to the successful bidder selected through international competitive bidding process under tariff based competitive bidding guidelines for transmission service issued by Ministry of Power.

PFC is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund-based support for the development of the Indian power sector.

The company's consolidated net profit jumped 22.8% to Rs 4,833.08 crore on 15.8% increase in total income to Rs 22,403.69 crore in Q2 FY24 over Q2 FY23.

The scrip rose 0.15% to Rs 377.75 on the BSE. The counter hit an all time high of Rs 387.85 in today’s intraday session.