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Sterlite Power buys PFC Consulting's transmission SPV for undisclosed sum

The acquisition is part of a project win, which Sterlite bagged through competitive bidding

power, electricity, plant, renewables, thermal

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Sterlite won WRSS and NERSS through a tariff-based competitive bidding (TBCB) process, under the Build, Own, Operate and Maintain model for 35 years.

Amritha Pillay Mumbai

2 min read Last Updated : Jun 26 2020 | 6:12 PM IST

Power transmission company Sterlite Power on Friday said it has acquired a transmission special purpose vehicle (SPV) from PFC Consulting for an undisclosed amount. The acquisition is part of a project win, which Sterlite bagged through competitive bidding.

“Sterlite Power announced the acquisition of Vapi II North Lakhimpur Transmission (VNLTL), a Special Purpose Vehicle (SPV) from PFC Consulting,” the company said in its statement.

PFC Consulting is a wholly-owned subsidiary of Power Finance Corporation for providing consultancy services.

The statement added, Sterlite Power will execute a large inter-state transmission system (ISTS) project - Western Region Strengthening Scheme-XIX (WRSS-XIX) and North Eastern Region Strengthening

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