Sterlite Power buys PFC Consulting’s transmission SPV for undisclosed sum
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 Scheme-IX (NERSS-IX), through this acquired SPV.
