New Delhi: Power Grid Corporation of India Limited (POWERGRID) has completed the acquisition of Barmer HVDC Power Transmission Limited for an aggregate consideration of approximately ₹18.98 crore. The acquisition was completed on September 23, 2026, after POWERGRID emerged as the successful bidder under the Tariff Based Competitive Bidding (TBCB) process.
The acquisition will enable POWERGRID to undertake a major inter-state transmission project designed to evacuate 6,000 MW of renewable energy from Rajasthan to the power grid. The project, titled “Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-5: 6 GW) [Barmer Complex] Barmer-II: 6 GW (Solar) (LCC Configuration)”, will be developed on a Build, Own, Operate and Transfer (BOOT) basis.
POWERGRID Acquires Barmer HVDC Power Transmission Limited
Barmer HVDC Power Transmission Limited was transferred to POWERGRID by REC Power Development and Consultancy Limited (RECPDCL), the Bid Process Coordinator for the project.
The acquisition involves the transfer of the special purpose vehicle (SPV), along with its assets and liabilities as on the acquisition date.
Key details of the transaction include:
- Acquired company: Barmer HVDC Power Transmission Limited
- Acquisition date: September 23, 2026
- Aggregate acquisition value: Approximately ₹18.98 crore
- Bidding route: Tariff Based Competitive Bidding (TBCB)
- Successful bidder: POWERGRID
- Project model: Build, Own, Operate and Transfer (BOOT)
- Bid Process Coordinator: RECPDCL
- Project focus: Evacuation of 6 GW renewable power from Rajasthan
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6 GW Rajasthan Renewable Energy Transmission Project
The Barmer project is planned as a major inter-state transmission system for evacuation of renewable energy generated in the Rajasthan Renewable Energy Zone (REZ). The project will connect Barmer-II in Rajasthan with South Kalamb in Maharashtra through a high-capacity HVDC transmission system.
The major components of the project include:
- 6,000 MW ±800 kV HVDC terminals at Barmer-II, Rajasthan, and South Kalamb, Maharashtra.
- Approximately 1,000 km HVDC bipole transmission line.
- Transmission corridor passing through Rajasthan, Gujarat and Maharashtra.
- Augmentation of the South Kalamb substation.
- 400 kV transmission lines and associated bays in Rajasthan.
- Two SynCon units at Barmer-II.
The project is designed to facilitate the transfer of large volumes of renewable power from Rajasthan to the wider inter-state transmission network.
Project to Strengthen Renewable Power Evacuation
Rajasthan has emerged as a major renewable energy generation hub, particularly for solar power. The Barmer transmission system is intended to provide the infrastructure required to evacuate renewable electricity from the state’s renewable energy zone.
With a planned transmission capacity of 6 GW, the project will establish a high-capacity corridor connecting Rajasthan with Maharashtra through Gujarat. The use of ±800 kV HVDC technology is aimed at enabling long-distance bulk power transmission between the Barmer-II and South Kalamb terminals.
Acquisition Value and Shareholding Details
The acquisition was executed through cash consideration and includes the acquisition of 50,000 equity shares of Barmer HVDC Power Transmission Limited, each having a face value of ₹10. The transaction also includes the assets and liabilities of the company as they stood on the acquisition date.
The acquisition consideration is subject to adjustment based on the audited accounts of Barmer HVDC Power Transmission Limited as of September 23, 2026.
Barmer HVDC Power Transmission Yet to Commence Operations
Barmer HVDC Power Transmission Limited was incorporated on September 30, 2025, by RECPDCL for implementing the transmission project.
The company has not yet commenced commercial operations. As a result, it has not recorded any turnover during the past three years.
The SPV was established specifically in connection with the transmission project and was subsequently transferred to POWERGRID following the competitive bidding process.
CERC Approvals for Transmission Licence and Charges Pending
Following the acquisition, certain regulatory approvals will be required for the project.
Approvals from the Central Electricity Regulatory Commission (CERC) are pending for:
- Grant of the transmission licence.
- Adoption of transmission charges.
The required approvals for the transfer of the SPV have been obtained, while the remaining regulatory processes will be taken forward as part of the project’s implementation.
POWERGRID Expands Transmission Infrastructure Through TBCB Projects
The acquisition of Barmer HVDC Power Transmission Limited is aligned with POWERGRID’s core business of developing and operating electricity transmission infrastructure.
Through the project, the company will add a major HVDC transmission asset focused on renewable energy evacuation. The proposed network is expected to support the integration and transfer of renewable power generated in Rajasthan into the inter-state transmission system.
About POWERGRID
Power Grid Corporation of India Limited (POWERGRID) is a Government of India enterprise under the Ministry of Power. The company is India’s central transmission utility and operates a large electricity transmission network, supporting the reliable transfer of power across the country. POWERGRID is also involved in telecom, consultancy and energy-related infrastructure services.
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