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FINWIRES

Power Grid of India Acquires Transmission Project SPV for INR129 Million

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Power Grid of India (NSE:POWERGRID) has acquired Bhadla Ramgarh Power Transmission, the special purpose vehicle for an interstate transmission project, after emerging as the successful bidder, according to a Wednesday exchange filing.

The SPV was acquired from REC Power Development and Consultancy for about 128.6 million rupees, including equity shares, assets and liabilities.

The project covers augmentation and bay extension works at Bhadla-III and Ramgarh substations in Rajasthan, and the Kanpur substation in Uttar Pradesh.

The project will be developed on a build, own, operate and transfer basis.

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