New Delhi: State-owned Power Grid Corporation of India announced on Monday the acquisition of project special purpose vehicle (SPV) Rajasthan IV 4A Power Transmission Ltd (RIV4APTL) for an aggregate value of approximately Rs 18.37 crore.
The acquisition includes 50,000 equity shares at par at Rs 10 each, along with the assets and liabilities of RIV4APTL as of December 30, 2024.
RIV4APTL was established to develop the Transmission System for evacuation of power from Rajasthan REZ Ph-IV (Part-4: 3.5 GW): Part A on a build, own, operate, and transfer (BOOT) basis. The project involves the construction of a 765/400kV substation in Mainpuri district, Uttar Pradesh, as well as the development of 765kV and 400kV transmission lines in Rajasthan and Uttar Pradesh. Additional work will include augmentation and bay extension at various under-construction and existing substations in both states.
The project was originally incorporated on August 6, 2024, by the Bid Process Coordinator, REC Power Development and Consultancy Ltd (RECPDCL). This acquisition marks a significant step for Power Grid Corporation in enhancing its transmission infrastructure and capacity.
