Power Finance Corporation Limited (PFC), a key player in India's power sector financing, has announced a significant change in its risk management leadership. The company has appointed Shri Deepak Jain as its new Chief Risk Officer for a specific tenure.

Appointment Details

This strategic appointment underscores PFC's commitment to robust risk management practices, which are crucial in the dynamic power financing sector.

Regulatory Compliance

In line with regulatory requirements, Power Finance Corporation has duly informed the stock exchanges about this appointment. This transparency ensures that all stakeholders, including investors and regulatory bodies, are kept informed about significant changes in the company's leadership structure.

Implications for PFC

The appointment of Shri Deepak Jain as Chief Risk Officer is expected to bring his extensive experience as Chief General Manager to bear on the company's risk management strategies. This move could potentially influence PFC's approach to assessing and mitigating risks in its financing operations within the power sector.

As the power sector continues to evolve, particularly with the increasing focus on renewable energy and changing regulatory landscapes, effective risk management becomes even more critical for financial institutions like PFC. The new Chief Risk Officer will play a pivotal role in navigating these challenges and opportunities.

Stakeholders will likely be keen to observe how this appointment might shape PFC's risk policies and, consequently, its overall business strategy in the coming months.

Power Finance Corporation Limited (PFC), a government-owned entity, has announced a significant development in Maharashtra's power transmission sector. PFC Consulting Limited (PFCCL), a wholly-owned subsidiary of PFC, has incorporated a new Special Purpose Vehicle (SPV) named Raigad Power Transmission Limited.

Project Details

The newly formed SPV is set to develop a crucial transmission system in Maharashtra's Raigad district. Here are the key details of the project:

Role of Maharashtra State Electricity Transmission Company Limited (MSETCL)

MSETCL has appointed PFCCL as the Bid Process Coordinator (BPC) for this project. The appointment was made through a Letter of Intent (LOI) dated August 14, 2025. PFCCL's role as BPC involves:

1. Selecting a Bidder as the Transmission Service Provider (TSP)
2. Establishing the transmission system through a Tariff-Based Competitive Bidding Process

SPV's Preparatory Activities

Raigad Power Transmission Limited, as the SPV, will undertake several crucial preparatory activities for the transmission project, including:

• Conducting surveys and preparing reports
• Initiating the process of land acquisition
• Seeking forest clearance, if required

Future Transfer of SPV

It's important to note that this SPV is not a permanent subsidiary of PFCCL. After the completion of the bidding process, Raigad Power Transmission Limited will be transferred to the successful bidder. This transfer aligns with the Tariff Based Competitive Bidding Guidelines for Transmission Service issued by the Ministry of Power.

Significance of the Project

This development marks a significant step in enhancing Maharashtra's power transmission infrastructure. The establishment of a 765/400/220 kV transmission system at Khandalgaon is expected to improve the reliability and capacity of the state's power grid, potentially benefiting both industrial and residential consumers in the Raigad district and beyond.

The incorporation of Raigad Power Transmission Limited demonstrates PFC's commitment to facilitating the development of crucial power infrastructure projects in India. By creating this SPV, PFC is ensuring that necessary groundwork is laid for the successful implementation of this important transmission project in Maharashtra.