PFC Consulting Limited, a wholly owned subsidiary of Power Finance Corporation (PFC), transferred two transmission special purpose vehicles to their respective successful bidders on August 3, 2026, PFC said in an intimation to the BSE and the National Stock Exchange (NSE).
Ananthpuram Transmission Limited, set up for developing the transmission system for integration of the Ananthpuram-III PS Renewable Energy Zone (REZ) Phase-I, with a capacity of 3 GW, was transferred to Apraava Energy Private Limited. Krishnagiri REZ Transmission Limited, established for the transmission system to integrate Krishnagiri REZ Phase-I, was transferred to Power Grid Corporation of India Limited (Power Grid), according to the filing.
The filing showed that Apraava Energy paid Rs 19,61,75,336, or about Rs 19.62 crore, for Ananthpuram Transmission Limited as per the share purchase agreement, while Power Grid paid Rs 19,82,02,754, or about Rs 19.82 crore, for Krishnagiri REZ Transmission Limited.
PFC stated that the turnover, revenue and net worth contributed by both units to the listed entity during the last financial year were negligible. It added that neither Apraava Energy nor Power Grid belongs to PFC’s promoter or promoter group, and that the transactions do not fall within the purview of related party dealings.The company also clarified that the transfers are not in the nature of a slump sale. According to the filing, the consideration for the sale and transfer of both special purpose vehicles was determined in accordance with guidelines issued from time to time by the Ministry of Power, Government of India.
