PFC Consulting may float JV next month

PFC Consulting may float JV next month
PTI
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First Published: Sun, Jul 06 2008. 11 08 PM IST
Updated: Sun, Jul 06 2008. 11 08 PM IST
New Delhi: PFC Consulting Ltd, a wholly owned subsidiary of state-owned Power Finance Corp. Ltd (PFC), is likely to form a joint venture (JV) with an international company next month to provide technical expertise to power utilities.“The JV with the international consultancy firm is expected in a month’s time,” a source said.
The company has also formed three special purpose vehicles (SPVs), or companies floated to execute specific projects, for power projects in Orissa. The SPVs would look after the selection of developers for the three coal-linked projects, which will provide nearly 50% of power generated to Orissa.
The company is also selecting developers for the thermal project linked to the Maurya coal block in Jharkhand. The three beneficiary states for the project would be Jharkhand, Uttar Pradesh and Bihar.
The company has consultancy assignments in Punjab, including for Talwandi Sabo Power Project, Rajpura Power Project and Nabha Power Ltd.
It also has two projects in Rajasthan to which it would provide services related to land technology and fuel.
PFC Consulting till date has assignments worth Rs 80 crore and plans to open consultancy site offices in Jaipur, Mohali and Ranchi, the source said.
PFC is the nodal agency for the Central government’s ambitious ultra mega power projects (UMPPs), or projects with at least 4,000MW generation capacity.
Three UMPPs—at Mundra (Gujarat), Sasan (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh)—were under the purview of PFC. The rest of the UMPPs are with PFC Consulting.
A UMPP in Tamil Nadu is on the fast track and site identification for it has been done. Four UMPPs in Orissa might face some delay due to water shortage, the source said.
PFC Consulting is also in talks with Jharkhand for unbundling of the state electricity board and is also looking after the re-organization of the Bihar State Electricity Board, including human resource planning, manpower distribution among new entities and other related work.
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First Published: Sun, Jul 06 2008. 11 08 PM IST