Power Finance Corporation Ltd (PFC), through its wholly-owned subsidiary PFC Consulting Limited (PFCCL), has set up a Special Purpose Vehicle (SPV) named Tumkur II RE Transmission Limited. The SPV is tasked with developing a transmission system to integrate an additional 1.5 GW of renewable energy capacity at Tumkur-II.
Ministry of Power Notification
The Ministry of Power (MoP), via Gazette Notification No. CG-DL-E-21082025-265554 dated August 19, 2025, appointed PFCCL as the Bid Process Coordinator (BPC). In this role, PFCCL will oversee the selection of a Transmission Service Provider (TSP) through a Tariff-Based Competitive Bidding (TBCB) process.
Role of the SPV
Under TBCB guidelines, the BPC is responsible for preparing the project profile, initiating land acquisition, and securing forest clearances if required. Tumkur II RE Transmission Limited will execute these preparatory activities, including surveys, feasibility studies, land procedures, and clearance applications, ensuring the project is ready for development.
Transfer to the Successful Bidder
After the international competitive bidding process concludes, the SPV will be handed over to the winning bidder, who will then take on the responsibility for developing, operating, and maintaining the transmission project under the tariff-based framework.
Summary:
The creation of Tumkur II RE Transmission Limited highlights PFC’s proactive approach toward renewable energy integration and strengthening India’s transmission infrastructure. By establishing a dedicated SPV, PFC ensures streamlined preparatory activities, enabling efficient project execution and supporting the country’s goal of accelerating renewable capacity addition.
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