PFC Completes Sale of Satara TransmissionSPV to Adani Energy

Power Finance Corporation (PFC) has completed the sale of its wholly owned subsidiary and special purpose vehicle, Satara Power Transmission, to Adani Energy Solutions, the successful bidder. The transfer was made for a consideration of around Rs 19.01 crore. Satara Power Transmission was set up to develop the transmission system for the Network Expansion Scheme in the Western Region, which will serve the pumped storage potential near Satara of up to 4,500 MW (Part A). PFC provides financial assistance to power utilities to meet the financing and development needs of the power sector. How to read the deal It's a tariff-based competitive bidding (TBCB) handover, not a conventional asset sale. PFC's consulting arm sets up the SPV, runs the bid process, and transfers the SPV to the winning bidder. The Rs 19.01 crore most likely reflects recovery of SPV and bid-process costs, so it is not a sale price for the project's value. The release doesn't break this down, so treat that as an inference. Disclaimer: Investments in securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. The above information is for educational and learning purpose. They analyst or his associates do not hold any shares of the company and have no financial interest in it. SEBI Registered Research Analyst: Vineet Ashwinikumar Chawla: INH000008190, BSE Enlistment No: 5433