News ArticlePower Finance Corporation Subsidiary Forms Siot Rajouri Akhnoor Transmission Ltd SPV for Jammu & Kashmir Transmission Project
SPV will manage land and forest clearance preparations for downstream transmission network under Ministry of Power tariff-based competitive bidding guidelines
Power Finance Corporation's wholly owned subsidiary PFC Consulting Limited has incorporated a new Special Purpose Vehicle (SPV), Siot Rajouri Akhnoor Transmission Limited, to prepare and facilitate transmission infrastructure development in Jammu & Kashmir under a Ministry of Power competitive bidding project. The SPV will handle land acquisition and clearances for the downstream transmission network from 400/220 kV Grid Substation Siot, Rajouri.
Power Finance Corporation Ltd.
New Ventures
Power Finance Corporation Limited's subsidiary, PFC Consulting Limited, has incorporated a wholly owned Special Purpose Vehicle (SPV) named Siot Rajouri Akhnoor Transmission Limited to develop a downstream transmission network from the 400/220 kV Grid Substation Siot in Rajouri, Jammu & Kashmir.
The SPV was incorporated on behalf of PFC Consulting Limited, which itself is a wholly owned subsidiary of Power Finance Corporation Limited, for preparatory activities including surveys, land acquisition initiation, and seeking forest clearance.
PFC Consulting Limited acts as the Bid Process Coordinator (BPC) for selecting the transmission project developer through tariff-based competitive bidding under the Ministry of Power’s guidelines.
The SPV will undertake early-stage project readiness activities before the project is transferred to the successful bidder selected through international competitive bidding.
Previously, a similar SPV named Wahipora and Sallar Transmission Limited was incorporated for other transmission works in Jammu & Kashmir, reflecting the consistent procedural approach taken by PFC for such projects.
Highlights
- SPV Siot Rajouri Akhnoor Transmission Limited incorporated on November 4, 2026, as a wholly owned subsidiary of PFC Consulting Limited.
- The project involves laying downstream transmission network from the 400/220 kV Grid Substation Siot, Rajouri in Jammu & Kashmir.
- PFC Consulting Limited is appointed as Bid Process Coordinator by Jammu and Kashmir Power Transmission Corporation Limited via Letter of Award dated July 23, 2024.
- SPV will carry out land acquisition process and forest clearance applications as per Ministry of Power’s tariff-based competitive bidding guidelines.
- The SPV is intended to be transferred to the successful bidder after international competitive bidding selection.
Key Data Snapshot
What happened
- Power Finance Corporation Limited's wholly owned subsidiary, PFC Consulting Limited, has incorporated a Special Purpose Vehicle named Siot Rajouri Akhnoor Transmission Limited.
- The SPV is formed to undertake preparatory activities for transmission network development including survey, land acquisition, and forest clearance initiation.
- This initiative supports a transmission project from the 400/220 kV Grid Substation Siot in Rajouri under a tariff-based competitive bidding process by the Ministry of Power.
- The SPV will eventually be transferred to the successful Transmission Service Provider selected through international competitive bidding.
Key details
- PFC Consulting Limited is nominated as the Bid Process Coordinator by Jammu and Kashmir Power Transmission Corporation Limited via Letter of Award dated July 23, 2024.
- The project follows the Ministry of Power’s Tariff Based Competitive Bidding guidelines requiring preparatory steps by an SPV.
- The SPV is responsible for initiating land acquisition and forest clearance required before project execution.
- A precedent SPV, Wahipora and Sallar Transmission Limited, was incorporated earlier on November 11, 2024, following the same process for related transmission works in Jammu & Kashmir.
Highlights
- SPV Siot Rajouri Akhnoor Transmission Limited incorporated on November 4, 2026, as a wholly owned subsidiary of PFC Consulting Limited.
- The project involves laying downstream transmission network from the 400/220 kV Grid Substation Siot, Rajouri in Jammu & Kashmir.
- PFC Consulting Limited is appointed as Bid Process Coordinator by Jammu and Kashmir Power Transmission Corporation Limited via Letter of Award dated July 23, 2024.
- SPV will carry out land acquisition process and forest clearance applications as per Ministry of Power’s tariff-based competitive bidding guidelines.
- The SPV is intended to be transferred to the successful bidder after international competitive bidding selection.
Disclosures
- Tariff Based Competitive Bidding Guidelines by Ministry of Power (India)
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