State-owned Power Finance Corporation on Wednesday said that its arm, PFC Consulting, on October 6 transferred a project special purpose vehicle (SPV), Satara Power Transmission, to Adani Energy Solutions, which emerged as the successful bidder.
PFC Consulting was the coordinator for the bidding process for the SPV, which was established to develop a ‘Transmission System for Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4500 MW) – Part A’, an exchange filing said.
According to the filing, PFC Consulting received a consideration of ₹19,01,24,505, as per the Share Purchase Agreement.
The acquisition has been completed and is proposed to further Adani Energy Solutions Ltd’s (AESL) strategy for enhancing value for its shareholders through organic as well as inorganic opportunities, AESL informed the stock exchanges.
Satara Power Transmission Ltd (SPTL) has been planned to facilitate an additional 765 kV inter-regional corridor between the SR and WR Grids (Narendra – Kolhapur – Satara – Pune III / Pune (East) 765 kV corridor) and will enable further additional evacuation of RE power in Karnataka towards load centres and PSP projects in the Satara, Pune, MMR areas of Maharashtra.
SPTL was incorporated and registered with the Registrar of Companies, New Delhi, on July 10, 2026.
The authorised share capital as well as paid-up share capital is ₹1 lakh. The equity shares were acquired at a face value of ₹10 each, AESL said in the filing.