Power Finance Corporation has incorporated Satara Power Transmission Limited as a wholly owned subsidiary through its subsidiary PFC Consulting Limited. According to the latest reports, this SPV will manage preparatory work for a transmission scheme supporting up to 4500 MW of pumped storage potential near Satara in the Western Region. The incorporation was officially filed on July 13, 2026, signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer of Power Finance Corporation Ltd. As per the company's regulatory filing to BSE and NSE, the project is specifically designated as the "Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4,500 MW) – Part A."
The incorporated SPV will be transferred to the successful bidder selected through the International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power. As reported by Business Standard, PFC Consulting Limited has been designated as the Bid Process Coordinator (BPC) by the Ministry of Power, Government of India, with the official notification dated March 24, 2026. The BPC is responsible for selecting a developer through tariff-based competitive bidding for Independent Transmission Projects (ITPs), preparing project profiles, and initiating land acquisition and forest clearance processes where necessary. As per PFC's regulatory filing, this is a standard process followed for interstate transmission projects developed under the TBCB mechanism.
As part of its BPC responsibilities, PFC Consulting Limited is required to complete several preliminary activities before the project is awarded. These include conducting surveys and preparing project reports, initiating land acquisition wherever required, starting the process of obtaining forest clearances if applicable, and preparing the project for competitive bidding. The SPV will carry out preparatory activities including conducting surveys, preparing project reports, initiating land acquisition wherever required, starting forest clearance processes if applicable, and preparing the project for competitive bidding. Following the completion of the bidding process, the SPV will be transferred to the successful bidder selected through the competitive process. This move represents PFC's continued involvement in the transmission sector infrastructure development, supporting power transmission projects through specialized vehicles and potentially expanding its role in the transmission sector value chain.
The establishment of Satara Power Transmission Limited aligns with the regulatory framework requiring an SPV to manage initial project activities before the final developer takes over. The SPV is required to carry out preparatory activities including conducting surveys, preparing project reports, initiating land acquisition wherever required, starting forest clearance processes if applicable, and preparing the project for competitive bidding. Following the completion of the bidding process, the SPV will be transferred to the successful bidder selected through the competitive process. This move represents PFC's continued involvement in the transmission sector infrastructure development, supporting power transmission projects through specialized vehicles and potentially expanding its role in the transmission sector value chain. The project is expected to play an important role in supporting renewable energy integration and improving power evacuation infrastructure in the western region, especially as large pumped storage projects are planned in Maharashtra.
The incorporation of Satara Power Transmission Limited marks another step in strengthening India's power transmission network as the country continues to expand its renewable energy and pumped storage capacity. The project is expected to improve grid reliability and ensure efficient evacuation of electricity from future energy projects in western India. According to PFC's regulatory filing, the development was disclosed on Monday as part of the company's commitment to supporting the country's transmission infrastructure needs. The project will be instrumental in evacuating power from upcoming pumped storage projects in and around Satara, Maharashtra, contributing to the overall grid stability and renewable energy integration capabilities in the western region.
