Power Grid Corporation of India Limited (POWERGRID) has recently expanded its transmission network by acquiring three Special Purpose Vehicles (SPVs) through Tariff Based Competitive Bidding (TBCB). These acquisitions aim to enhance India’s power transmission infrastructure and facilitate the integration of renewable energy sources.
1. Acquisition of Banaskantha Transco Limited (BTL):
On March 24, 2025, POWERGRID acquired Banaskantha Transco Limited, an SPV established to augment the transformation capacity at the Banaskantha (Raghanesda) Power Station (GIS) in Gujarat. The project involves increasing the transformation capacity at the existing substation, thereby strengthening the power transmission network in the region. The acquisition was completed for approximately ₹6.54 crore, which includes 50,000 equity shares at ₹10 each, along with the assets and liabilities of BTL as of the acquisition date.
2. Acquisition of Kurnool-IV Transmission Limited (K-IVTL):
On the same day, POWERGRID also acquired Kurnool-IV Transmission Limited. This SPV is responsible for establishing the transmission system for integrating the Kurnool-IV Renewable Energy Zone (REZ) Phase-I, targeting a capacity of 4.5 GW. The project encompasses the establishment of a new 765/400/220kV Kurnool IV Pooling Substation and the augmentation of transformation capacity at the existing Cuddapah Substation in Andhra Pradesh. Additionally, it includes the construction of 765kV and 400kV double-circuit transmission lines traversing Andhra Pradesh and Karnataka. The acquisition was valued at approximately ₹18.56 crore, covering 50,000 equity shares at ₹10 each, along with the assets and liabilities of K-IVTL as of the acquisition date.
3. Acquisition of Rajasthan V Power Transmission Limited (RVPTL):
Furthermore, on March 24, 2025, POWERGRID acquired Rajasthan V Power Transmission Limited. This SPV is tasked with establishing the transmission system for evacuating power from the Rajasthan REZ Phase-V (Part-1: 4 GW) [Sirohi/Nagaur] Complex. The project involves augmenting the transformation capacity at the under-construction Sirohi substation in Rajasthan and constructing 765kV double-circuit transmission lines traversing Rajasthan and Madhya Pradesh. The acquisition was completed for about ₹18.63 crore, including 50,000 equity shares at ₹10 each, along with the assets and liabilities of RVPTL as of the acquisition date.
These strategic acquisitions align with POWERGRID’s commitment to enhancing India’s transmission infrastructure and integrating renewable energy sources into the national grid. By undertaking these projects, POWERGRID continues to play a pivotal role in strengthening the country’s power transmission capabilities and supporting the growing demand for sustainable energy solutions.
