New Delhi: Power Grid Corporation of India Limited (POWERGRID), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power, has acquired MEL Power Transmission Limited (MPTL), a Special Purpose Vehicle (SPV), to implement a key transmission infrastructure project in Madhya Pradesh. The acquisition follows POWERGRID’s successful bid under the Tariff-Based Competitive Bidding (TBCB) process and was completed on June 4, 2025.
The SPV was transferred to POWERGRID by PFC Consulting Limited (PFCCL), the designated bid process coordinator for the project.
Project to Evacuate Power from Mahan Energen Plant
The project, titled “Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh,” is intended to support the growing energy demands in the region.
Executed under the Build, Own, Operate, and Transfer (BOOT) model, the initiative includes the construction of a 400 kV double circuit transmission line and associated bays at the existing Rewa Powergrid sub-station.
This critical infrastructure will ensure the seamless evacuation of electricity from Mahan Energen’s generation facility, contributing to grid stability and power availability in central India.
Acquisition Cost and Financial Structure
The total acquisition cost for MPTL stands at approximately ₹8.53 crore, comprising 10,000 equity shares at face value, in addition to the assets and liabilities of the SPV as of the acquisition date. The final acquisition price is subject to adjustment based on the audited financials.
POWERGRID has clarified that-
- It held no prior interest in MEL Power Transmission Ltd before the acquisition.
- The transaction does not qualify as a related party deal under regulatory norms.
Next Steps: Regulatory Approvals
As a newly incorporated entity (November 19, 2024), MPTL has not commenced any commercial operations. POWERGRID will now move forward with the required applications to the Central Electricity Regulatory Commission (CERC) for-
- Transmission license, and
- Adoption of transmission charges.
- These steps are crucial before the project can move to the execution phase under regulatory compliance.
Strategic Fit for POWERGRID
The acquisition enhances POWERGRID’s robust portfolio of transmission assets across the country. It aligns with the company’s core objective of strengthening India’s transmission infrastructure, especially in regions with high power generation potential like Madhya Pradesh.
With several projects already executed under the TBCB mechanism, POWERGRID continues to consolidate its position as a leader in the national power transmission sector.
About Power Grid Corporation of India
Power Grid Corporation of India Limited is an Indian central public sector undertaking under the ownership of the Ministry of Power, Government of India. It is engaged mainly in transmission of bulk power across different states of India. It is headquartered in Gurugram. As India’s central transmission utility, POWERGRID is responsible for interstate electricity transmission, grid management, and renewable integration. It also provides consultancy and leads innovations in smart grid and digital infrastructure development.
