New Delhi: State-run Power Grid Corporation of India Limited (POWERGRID) has successfully acquired Mandsaur I RE Transmission Limited (MIRETL)—a Special Purpose Vehicle (SPV)—as part of its efforts to strengthen renewable energy infrastructure in the country. The acquisition was finalised on October 8, 2025, following POWERGRID’s selection as the successful bidder through tariff-based competitive bidding conducted by PFC Consulting Limited (PFCCL), the designated Bid Process Coordinator.
This acquisition marks a significant step in the implementation of the project titled:
“Augmentation of transformation capacity and Implementation of line bays at Mandsaur Substation for RE Interconnection.”
The project is being established on a Build, Own, Operate, and Transfer (BOOT) basis and is critical to facilitating renewable energy evacuation from the region.
Strengthening Renewable Energy Transmission in Madhya Pradesh
The project involves essential augmentation works at the under-construction Mandsaur Pooling Station (PS), located in the state of Madhya Pradesh. These works aim to enhance the transformation capacity and integrate additional renewable energy sources into the grid, thereby supporting India’s growing green energy ambitions.
The acquisition of MIRETL has been completed for a total consideration of approximately ₹7.30 crore, which includes 10,000 equity shares at par value of ₹10 each, along with the assets and liabilities of the SPV as of the acquisition date.
Read also: RECPDCL Hands Over Rs 366 Crore Davanagere Power Transmission Project to POWERGRID
Enabling India’s Clean Energy Vision
With the execution of this project, POWERGRID continues to play a pivotal role in reinforcing India’s power transmission infrastructure, particularly in the renewable energy (RE) segment. The integration of additional RE capacity through such projects will not only improve grid reliability but also contribute to India’s commitment towards increasing the share of clean energy in its overall power mix.
About POWERGRID
Power Grid Corporation of India Limited (POWERGRID) is India’s central transmission utility and one of the largest power transmission companies globally. A Maharatna CPSU under the Ministry of Power, Government of India, POWERGRID is entrusted with planning, implementation, and operation of the Inter-State Transmission System (ISTS) and plays a crucial role in strengthening the national grid. With a strong track record of delivering complex transmission projects on time and within budget, POWERGRID continues to drive the transformation of India’s energy landscape through innovation, operational excellence, and a commitment to sustainability.
