Lanco Infratech on Wednesday said it has carved out two subsidiaries for its thermal and hydro power generation businesses..The company has put in place Vamshi Industrial Power as a holding company for thermal special purpose vehicles (SPVs) or projects and Vamshi Hydro Energies for hydro electric SPVs or hydro power plants, the company said in a filing to the Bombay Stock Exchange..This arrangement will come into effect from March 31. These two holding companies are wholly-owned subsidiaries of Lanco Power, which in turn is a wholly-owned subsidiary of Lanco Infratech.