Latest News | PFC Consulting Transfers Kudankulam Project SPV to PGCIL

New Delhi, Jan 10 (PTI) State-owned PFC on Friday said its arm PFC Consulting has transferred a project special purpose vehicle (SPV) to Power Grid Corporation of India Ltd for Rs 7.43 crore.

The SPV, Kudankulam ISTS Transmission Ltd is established for evacuation of power from Kudankulam Unit - 3 & 4 (2x 1000 MW), a regulatory filing said.

Also Read | H-1B Visa New Rules To Take Effect From January 17: How Will H-1B Visa Reforms Affect Indians? All Details Here.

Kudankulam ISTS Transmission is a wholly-owned subsidiary of PFC Consulting Ltd.

The process for sale and transfer of the SPV to the successful bidder (PGCIL) was completed on January 10, 2025.

Also Read | Bank Holiday 2025 Dates: Will Banks Remain Open or Closed on January 13? Is There a Bank Holiday on January 14 and 15? Check State-Wise List of Bank Holidays Falling Between January 13-19.

The consideration received for this transaction is Rs 7.43 crore as per the share purchase agreement, the filing said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)