PFC Consulting scouts joint venture partners in Asia

PFC Consulting, the subsidiary of Power Finance Corporation, plans to list in the next one year. The company that provides consultancy services in India’s power sector is also scouting for a joint venture for extending services in other Asian countries.

“We will join hands with a prime consultant. The search is on very soon we will be able to make an announcement,” Satnam Singh, chairman and managing director, Power Finance Corporation (PFC), said.

Also, PFC plans to re-invite bids from consultants for advising it for making an entry in the banking sector.

“We received bids from five companies for doing the consultancy job for the banking entry; only one of them qualified, but the price they quoted was high ... so we will go for re-bid and would invite the bids again in a week or a  fortnight,” Singh said.

Five consultants— Icra, Crisil, Deloitte, PwC and KPMG had applied in the first round of bidding. Only KPMG had qualified.
PFC is also set to launch its renewable power subsidiary that will separately finance the renewable energy projects in the country.

“We will be launching the subsidiary in a month,” said Singh.
PFC, the nodal agency for the ultra mega power projects (UMPPs), will invite the request for qualification for Cheyyur UMPP in September this year.

“We may do it earlier also, but we have given the deadline of September to the ministry of power,” Singh said.