Power Finance Corporation Limited (PFC) has announced the incorporation of a Special Purpose Vehicle (SPV) company, FATEHGARH II TRANSMISSION LIMITED, as a wholly-owned subsidiary of its subsidiary, PFC Consulting Limited (PFCCL). This SPV is established for the purpose of installing two Synchronous Condenser (SynCon) units at the 765/400/220 kV Fatehgarh-II PS. PFC Consulting Limited has been nominated as the Bid Process Coordinator (BPC) by the Ministry of Power, Government of India, for selecting a developer through tariff-based competitive bidding for this Independent Transmission Project (ITP). The SPV will undertake preparatory activities including surveys, land acquisition, and forest clearance processes. Subsequently, this SPV will be transferred to the successful bidder selected through the international competitive bidding process. The National Committee on Transmission (NCT) had recommended PFCCL as the BPC for this project in its meeting held on September 16, 2025, and the transmission scheme was notified by the Ministry of Power on October 30, 2025. This development is part of the process to facilitate the development of the transmission scheme by the successful bidder.
