New Delhi, Feb 20 (PTI) State-owned PFC on Thursday said a special purpose vehicle has been incorporated as a wholly-owned subsidiary of PFC Consulting Limited for the development of a transmission system for proposed green hydrogen projects in Andhra Pradesh.

PFC Consulting Limited (PFCCL) is its wholly-owned subsidiary, Power Finance Corporation (PFC) said in an exchange filing.

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The SPV, Kakinada Transmission Ltd, has been incorporated as a wholly-owned subsidiary of PFCCL to develop the transmission system for proposed green hydrogen/ green ammonia projects in Kakinada area (Phase-I) transmission scheme.

The SPV will be transferred to the successful bidder after the completion of the bidding process. The selected bidder would develop the project.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)