PFC Consulting, a wholly-owned subsidiary of Power Finance Corp, may set up a special purpose vehicle (SPV), which in turn would form a joint venture company, a source close to the development said.
The terms of the joint venture, equity structure etc are yet to be worked out, the source said.
PFC Consulting, which was formed in 2008, provides consultancy services in the power sector and related areas.
It is mandated to promote, organise and carry on consultancy services to the power sector and is also undertaking the work related to the development of ultra mega power projects (UMPPs).
The company also works as a bid coordinator for selection of developer for the independent transmission projects.
"The exposure of the joint venture firm would not be limited to domestic projects, it would be to tap the overseas market as well," the source said.
PFC Consulting may also hit the market, after the joint venture partner is finalised.