Power Finance Corporation (PFC) successfully transferred two of its wholly-owned subsidiaries under PFC Consulting to winning bidders on 16 January, 2025.
The first transfer involved Gadag II and Koppal II Transmission, which were established to develop system strengthening projects in Karnataka and has been transferred to Power Grid Corporation of India. This subsidiary was acquired by PGCIL for Rs 13.23 crore.
The second transfer was of Bijapur REZ Transmission, designed for the integration of renewable energy generation projects in Karnataka. This entity was handed over to GR Infraprojects for Rs 111.40 crore.
Bijapur REZ Transmission was specifically developed to implement the transmission scheme for integrating renewable energy zones in Bijapur.