Power Finance Corporation Ltd. (PFC) and its subsidiary, PFC Consulting Ltd. (PFCCL), have taken a significant step towards green hydrogen production by forming a special purpose vehicle (SPV) named Mundra I Transmission Ltd. The SPV has been established to drive the development of a 3 GW power transmission system aimed at supporting green hydrogen and ammonia manufacturing in Gujarat. This initiative aligns with the Indian government's focus on promoting renewable energy and reducing carbon emissions. The Ministry of Power has entrusted PFCCL with the role of a bid process coordinator to oversee the selection of a transmission service provider through a competitive bidding process. As part of the project preparation, the SPV will engage in activities such as land acquisition, surveys, and securing necessary clearances. Once the bidding process concludes, the SPV will be handed over to the chosen bidder for the actual implementation of the project. This move not only signifies a commitment to sustainable energy practices but also highlights the growing importance of green hydrogen in the energy transition landscape.