PFC sets up SPV subsidiaries for UMPPs in Bihar and Jharkhand

State-run Power Finance Corporation has incorporated two subsidiaries -- Deoghar Infra Ltd and Bihar Infrapower Ltd -- for setting up two ultra mega power projects of 4,000 MW each in Jharkhand and Bihar.
"..Companies have been incorporated as wholly owned subsidiaries of Power Finance Corporation Limited (PFC)... Deoghar Infra Limited and Bihar Infrapower Limited on June 30, 2015," PFC said in BSE filing.
These two companies are special purpose vehicle to implement the two ultra mega thermal power projects of 4,000 MW each.
Earlier in April, the Jharkhand government had asked the Power Ministry to issue a direction to PFC to accelerate work on the 4000-MW mega power project in Deoghar district.

In a letter to Union Power Minister Piyush Goyal, Chief Minister Raghubar Das had requested that PFC should be directed to speed up the project so that it could be completed within the time frame.
Das had said in the letter that the state had already given permission for the project and that PFC would have to arrange meetings with various departments on water allotment.
Power Minister Piyush Goyal had earlier announced setting up of 4,000 MW UMPP in Bihar with assurance of sufficient number of coal blocks.