State-owned PFC Consulting Ltd has transferred the Solapur Transmission project to private player Torrent Power. The selection of the successful bidder was done through a competitive bidding process for establishing a transmission system. The project-specific special purpose vehicle was transferred to Torrent Power, as per a statement by PFC. PFC Consulting is a subsidiary of Power Finance Corporation (PFC), a leading non-banking financial corporation under the Ministry of Power. The power ministry has nominated PFC Consulting as the bid process coordinator for selecting a developer for independent transmission projects through competitive bidding.
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