PFC's Green Hydrogen Transmission Project in Andhra Pradesh
Key Ideas
- State-owned PFC has established a special purpose vehicle for developing a transmission system for green hydrogen projects in Andhra Pradesh.
- The SPV, Kakinada Transmission Ltd, will focus on green hydrogen and green ammonia projects in the Kakinada area as part of Phase-I of the transmission scheme.
- The successful bidder in the completion of the bidding process will take over the SPV and drive the development of the project.
- This initiative signifies a positive step towards promoting green energy projects and infrastructure development in India.
State-owned Power Finance Corporation (PFC) has announced the incorporation of a special purpose vehicle (SPV) for the development of a transmission system to support green hydrogen projects in Andhra Pradesh, India. The SPV, named Kakinada Transmission Ltd, is a wholly-owned subsidiary of PFC Consulting Limited, established to facilitate the transmission system for green hydrogen and green ammonia projects in the Kakinada area as part of Phase-I of the transmission scheme. After the bidding process is completed, the SPV will be transferred to the selected bidder who will further develop the project. This strategic move by PFC reflects a positive outlook towards advancing green energy initiatives and infrastructure development in the region, aligning with the global shift towards sustainable practices and renewable energy sources.