PFC Launches SPV for Green Hydrogen Transmission in Mundra, Gujarat
Key Ideas
- PFC's subsidiary, PFCCL, has incorporated a special purpose vehicle, Mundra I Transmission Ltd, to develop an advanced electricity transmission system in Mundra, Gujarat.
- The SPV aims to support green hydrogen and ammonia manufacturing potential in the region by facilitating power supply.
- PFCCL will oversee the selection of a Transmission Service Provider through competitive bidding before transferring the SPV to the successful bidder for project execution.
- This initiative reflects India's commitment to enhancing its energy infrastructure for a green hydrogen economy, in line with its sustainability and energy transition objectives.
Indian state-owned Power Finance Corporation (PFC) has established a Special Purpose Vehicle (SPV) named Mundra I Transmission Ltd through its subsidiary, PFC Consulting Ltd. (PFCCL), to develop an advanced electricity transmission system in Mundra, Gujarat. The SPV's primary goal is to enable power supply to support green hydrogen and ammonia manufacturing potential in the region. PFCCL, designated as the Bid Process Coordinator, will supervise the selection of a Transmission Service Provider (TSP) through a competitive bidding process, following which the SPV will be transferred to the successful bidder for project execution. This initiative signifies a significant move towards bolstering India's energy infrastructure to foster a burgeoning green hydrogen economy, aligning with the country's sustainability and energy transition aspirations.