POWERGRID Acquires Barmer HVDC Transmission SPV for ₹18.98 Crore; 6 GW Solar Transmission Project in Focus
Power Grid Corporation of India Limited (POWERGRID) has acquired Barmer HVDC Power Transmission Limited on September 23, 2026, for approximately ₹18.98 crore, following its selection as the successful bidder under the Tariff-Based Competitive Bidding (TBCB) route.
The acquisition gives POWERGRID 100% ownership of the project-specific special purpose vehicle (SPV), which will develop an inter-state transmission system for evacuating 6 GW of solar power from Rajasthan’s renewable energy zone.
POWERGRID’s 6 GW Barmer HVDC Project
The project, to be developed on a Build, Own, Operate and Transfer (BOOT) basis, involves establishing a high-capacity transmission link between Barmer-II in Rajasthan and South Kalamb in Maharashtra.
The key component is an approximately 1,000-km, ±800 kV HVDC bipole transmission line, supported by 6,000 MW HVDC terminals at both ends. The project also includes South Kalamb substation augmentation, associated 400 kV transmission lines in Rajasthan, and the installation of two synchronous condenser (SynCon) units at Barmer-II.
The transmission network will pass through Rajasthan, Gujarat and Maharashtra, supporting the evacuation of large-scale solar power from Rajasthan.
What Does the Acquisition Mean for POWERGRID?
The acquisition adds a major renewable energy transmission project to POWERGRID’s development pipeline. As India expands its solar power capacity, high-capacity transmission infrastructure is required to transport electricity from renewable energy zones to demand centres.
The project aligns with POWERGRID’s core power transmission business and its participation in competitively bid transmission infrastructure projects.
However, the acquisition announcement does not specify the total project construction cost, expected revenue, commissioning timeline or anticipated return on investment. These details will be important for assessing the project’s eventual contribution to POWERGRID’s financial performance.
Regulatory Approvals and Next Steps
POWERGRID stated that the requisite approvals for transferring Barmer HVDC Power Transmission Limited were obtained by the bid process coordinator, REC Power Development and Consultancy Limited.
The SPV will still need to obtain the transmission licence and approval for adoption of transmission charges from the Central Electricity Regulatory Commission (CERC).
The final acquisition consideration is also subject to adjustment based on the SPV’s audited accounts as of September 23, 2026.
What Should Investors Track?
Investors may monitor CERC approvals, project execution milestones, construction cost disclosures and the commissioning schedule. These developments will provide greater clarity on the project’s capital requirements and its potential contribution to POWERGRID’s future transmission asset base.
Conclusion
POWERGRID’s acquisition of Barmer HVDC Power Transmission Limited marks a step towards developing a 6 GW solar power evacuation corridor connecting Rajasthan and Maharashtra. The project strengthens the company’s renewable energy transmission pipeline, while execution progress, regulatory approvals and future project-cost disclosures remain key developments to watch.
Source: POWERGRID regulatory filing dated September 23, 2026.
Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security.
