FutureSenseIndia

POWERGRID Acquires RIV4APTL for Rs. 18.37 Crore to Enhance Renewable Energy Grid

POWERGRID Acquires RIV4APTL for Rs. 18.37 Crore to Enhance Renewable Energy Grid

Power Grid Corporation of India Limited (POWERGRID) Acquires Rajasthan IV 4A Power Transmission Limited (RIV4APTL)

POWERGRID acquired 100% shareholding in Rajasthan IV 4A Power Transmission Limited (RIV4APTL) on December 30, 2024, for approximately Rs. 18.37 crore. The acquisition was made through the Tariff Based Competitive Bidding (TBCB) process, where POWERGRID emerged as the successful bidder.

Key Highlights of the Acquisition

  • Incorporation: RIV4APTL was established on August 6, 2024, by REC Power Development and Consultancy Limited (RECPDCL) to implement a build, own, operate, and transfer (BOOT) transmission system for evacuating 3.5 GW of power from the Rajasthan REZ Ph-IV (Part-4: Part A).
  • Operational Status: The company has not commenced commercial operations and has no turnover history.
  • Related Party Transactions: This acquisition does not qualify as a related party transaction, as POWERGRID held no prior interest in RIV4APTL.
  • Regulatory Approvals: POWERGRID will seek approvals for the Grant of Transmission License and Adoption of Transmission Charges from the Central Electricity Regulatory Commission.

Infrastructure Development under the Project

The acquisition includes plans for significant infrastructure development to strengthen India’s renewable energy grid:

  1. New Substation: A 765/400kV substation near Ghiror in Uttar Pradesh.
  2. Transmission Lines: Construction of 765kV and 400kV transmission lines spanning Rajasthan and Uttar Pradesh.
  3. Bay Augmentation: Extension and augmentation at existing and under-construction substations across the region.

Strategic Importance

This acquisition aligns with POWERGRID’s core business in power transmission while advancing India’s renewable energy goals. By bolstering infrastructure for evacuating power from renewable energy zones, POWERGRID continues to play a vital role in enabling sustainable energy development.

Leave a Reply

Your email address will not be published. Required fields are marked *