New Delhi: Power Grid Corporation of India Limited (PGCIL) on Tuesday announced the acquisition of SR and ER Power Transmission Limited (SRERPTL) from PFC Consulting Limited (PFCCL) under the build, own, operate and transfer (BOOT) model.
The company disclosed the development in a regulatory filing to the stock exchanges.
Acquisition Under TBCB Route
The acquisition follows Power Grid’s selection as the successful bidder through the Tariff-Based Competitive Bidding (TBCB) route. The transaction was completed on February 3, with Power Grid taking over the project’s special purpose vehicle (SPV) from PFCCL.
SRERPTL was set up to implement a key inter-regional transmission project aimed at strengthening power connectivity between India’s Southern Region (SR) and Eastern Region (ER) grids.
Project Details
The project, titled “Inter-Regional Strengthening between SR Grid and ER Grid,” includes the development of 765 kV double-circuit transmission lines traversing Odisha and Andhra Pradesh. It also involves associated line bays and reactor works at both ends of the transmission corridor.
The transmission scheme is expected to significantly improve grid reliability and power transfer capacity between the two regions.
Transaction Value
Power Grid has acquired 100 percent equity in SRERPTL for an aggregate consideration of approximately ₹19.63 crore. The acquisition comprises 10,000 equity shares of ₹10 each, along with all assets and liabilities of the SPV as on the acquisition date. The final purchase consideration will be subject to adjustment based on audited financial accounts.
About Power Grid Corporation of India
Power Grid Corporation of India Limited is India’s leading power transmission utility and a central public sector enterprise under the Ministry of Power. The company is responsible for planning, developing, and operating the national transmission network, playing a vital role in ensuring reliable and efficient electricity supply across the country.
