PFC Completes ₹19.70 Cr SPV Transfer for Siang Basin Project

Power Finance Corporation (PFC) has transferred its wholly owned special purpose vehicle (SPV), NERGS III Siang Basin Transmission, to Dineshchandra R Agrawal Infracon as part of the development process for a key transmission infrastructure project in northeastern India.

The transaction was completed on 26 May 2026. The SPV was initially established by PFC Consulting Limited for the implementation of the “NERGS-II Siang Basin” transmission project, which forms part of India’s broader power transmission network expansion strategy.

Dineshchandra R Agrawal Infracon emerged as the successful bidder and acquired the SPV for a consideration of Rs 19.70 crore. The transfer reflects PFC’s continued model of developing and monetising transmission project SPVs through competitive bidding mechanisms, enabling greater private sector participation in infrastructure development.

The Siang Basin transmission project is expected to enhance power evacuation capacity and strengthen grid reliability in the northeastern region, supporting long-term energy security and regional connectivity. The transaction also highlights ongoing collaboration between financial institutions and private developers in advancing India’s critical energy infrastructure.

News by Rahul Yelligetti.