The state-owned Maharatna said its wholly owned subsidiary, PFC Consulting, incorporated a special purpose vehicle (SPV), Fatehgarh IV Transmission, as its wholly owned subsidiary on 8 June 2022.
The SPV was set up to develop transmission system for evacuation of power from REZ in Rajasthan (20 gigawatt) under Phase-III-Part-A1.Power Finance Corporation (PFC) is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund based support for the development of the Indian power sector. Its consolidated net profit rose 9.7% to Rs 3,205.88 crore on a 3.9% increase in total income to Rs 18,873.55 crore in Q4 FY22 over Q4 FY21.
Shares of PFC were down 0.92% at Rs 107.55 on the BSE.
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