A special purpose vehicle has been established as a wholly-owned subsidiary of PFC Consulting Limited for the development of a gearbox system for proposed green hydrogen projects in Andhra Pradesh, according to a statement released by state-owned PFC on Thursday.
Power Finance Corporation’s (PFC) wholly-owned subsidiary, PFC Consulting Limited (PFCCL), stated in an exchange filing.
The SPV, Kakinada Transmission Ltd, has been incorporated as a wholly-owned subsidiary of PFCCL to develop the transmission system for proposed green hydrogen/green ammonia projects in the Kakinada area (Phase I) transmission scheme.
The SPV will be transferred to the successful bidder after the completion of the bidding process. The selected bidder would develop the project.
