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Power Finance Corporation announced that Bikaner III Neemrana II Transmission for development of "Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-1: Bikaner Complex) Part-C", a Special Purpose Vehicle (SPV) for development of Independent Transmission Projects has been incorporated as wholly owned subsidiary of PFC Consulting (a wholly owned subsidiary of Power Finance Corporation).
PFC Consulting (a wholly owned subsidiary of Power Finance Corporation) has been nominated as the 'Bid Process Coordinator' for selection of developer through tariff based competitive bidding for the Independent Transmission Projects (ITPs) by Ministry of Power, GoI.
As per the provisions of tariff based competitive bidding Guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required. For these activities, a Special Purpose Vehicle (SPV) is required to be incorporated which will take up various preparatory activities of the transmission projects e.g. survey and preparation of report,
initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required.
The SPY 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.
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