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Power Grid Corp. of India Acquires Krishnagiri REZ Transmission Project SPV

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Power Grid Corp. of India (BOM:532898, NSE:POWERGRID) acquired Krishnagiri REZ Transmission, the special purpose vehicle for the Transmission System for Integration of Krishnagiri REZ Phase-I, according to an exchange filing on Monday.

The state-owned utility acquired the project SPV from PFC Consulting for about 198.2 million rupees after emerging as the successful bidder under the tariff-based competitive bidding process.

The project involves setting up two 765/400-kV substations in Andhra Pradesh and constructing 765-kV and 400-kV transmission lines across Andhra Pradesh, Telangana, and Karnataka.

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