PFC Forms SPV For Pune West 765 kV Transmission Project

11 May 2026 CW Team

Power Finance Corporation Limited (PFC) has incorporated Pune West Power Transmission Limited as a Special Purpose Vehicle (SPV) to facilitate development of the 765 kV gas insulated switchgear (GIS) Pune West transmission project in the Pune district of Maharashtra. The SPV was established through the company's wholly owned subsidiary, PFC Consulting Limited (PFCCL), in order to support pre-bidding and initial development activities under the tariff-based competitive bidding framework.

The Ministry of Power has designated PFCCL as the Bid Process Coordinator for the project and tasked it with selecting a Transmission Service Provider through tariff-based competitive bidding. PFCCL will undertake preparatory work that includes project profiling, engineering surveys, liaison for land acquisition and facilitation of forest clearances where required, as well as other statutory and regulatory compliance steps to ready the asset for bidding and construction.

The newly formed SPV will assist PFCCL in executing these preparatory functions and is intended to be transferred to the successful bidder upon completion of the competitive process in line with guidelines for independent transmission projects. The Government of Maharashtra issued a resolution notifying the appointment of PFCCL as Bid Process Coordinator on 27 February 2026 and the Empowered Committee had approved development of the transmission system in its meeting on January 12, 2026, providing the administrative approvals needed to progress the scheme.

The 765 kV GIS Pune West project is expected to strengthen the intra-state transmission network in Maharashtra, enhancing grid reliability and enabling the system to accommodate rising electricity demand in the region. PFC said that the move is consistent with its mandate to finance and facilitate critical power infrastructure projects across India and to support long-term energy security and grid modernisation objectives.

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