+
PFC Transfers Two Transmission SPVs To Apraava Energy And PGCIL
ECONOMY & POLICY

PFC Transfers Two Transmission SPVs To Apraava Energy And PGCIL

Power Finance Corporation (PFC) has completed the transfer of two wholly owned subsidiaries of PFC Consulting to their successful bidders, with both transactions concluded on three August 2026 under the applicable regulatory framework. The transfers form part of PFC's divestment of project-specific special purpose vehicles. The company indicated the moves were executed following prescribed procedures.

Ananthpuram Transmission was established as a special purpose vehicle (SPV) to develop the transmission system required to integrate the Ananthpuram-III phase one renewable energy zone, a three gigawatt project. The SPV has been transferred to Apraava Energy Private Limited for Rs 196.2 million (Rs 196.2 mn). PFC said the consideration was determined in accordance with the Ministry of Power guidelines for transfer of project-specific SPVs.

Krishnagiri REZ Transmission, created to develop transmission infrastructure for the Krishnagiri REZ phase one project, was acquired by Power Grid Corporation of India (PGCIL) for Rs 198.2 million (Rs 198.2 mn). Both transfers were completed on three August 2026 and were not executed as slump sales. PFC reported that the two subsidiaries made a negligible contribution to the company's overall turnover, revenue, income and net worth in the previous financial year.

The company clarified that neither successful bidder belongs to its promoter or promoter group and therefore the transactions do not qualify as related-party dealings. PFC confirmed that all regulatory and disclosure obligations were met and that the necessary filings were submitted to the National Stock Exchange of India Limited and BSE Limited. The compliance disclosures were signed and submitted by Manish Kumar Agarwal, Company Secretary and Compliance Officer, confirming completion in accordance with applicable regulatory provisions.

Power Finance Corporation (PFC) has completed the transfer of two wholly owned subsidiaries of PFC Consulting to their successful bidders, with both transactions concluded on three August 2026 under the applicable regulatory framework. The transfers form part of PFC's divestment of project-specific special purpose vehicles. The company indicated the moves were executed following prescribed procedures. Ananthpuram Transmission was established as a special purpose vehicle (SPV) to develop the transmission system required to integrate the Ananthpuram-III phase one renewable energy zone, a three gigawatt project. The SPV has been transferred to Apraava Energy Private Limited for Rs 196.2 million (Rs 196.2 mn). PFC said the consideration was determined in accordance with the Ministry of Power guidelines for transfer of project-specific SPVs. Krishnagiri REZ Transmission, created to develop transmission infrastructure for the Krishnagiri REZ phase one project, was acquired by Power Grid Corporation of India (PGCIL) for Rs 198.2 million (Rs 198.2 mn). Both transfers were completed on three August 2026 and were not executed as slump sales. PFC reported that the two subsidiaries made a negligible contribution to the company's overall turnover, revenue, income and net worth in the previous financial year. The company clarified that neither successful bidder belongs to its promoter or promoter group and therefore the transactions do not qualify as related-party dealings. PFC confirmed that all regulatory and disclosure obligations were met and that the necessary filings were submitted to the National Stock Exchange of India Limited and BSE Limited. The compliance disclosures were signed and submitted by Manish Kumar Agarwal, Company Secretary and Compliance Officer, confirming completion in accordance with applicable regulatory provisions.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code