New Delhi: Power Grid Corporation of India Limited (PGCIL) on Wednesday said that it has acquired Barmer HVDC Power Transmission Limited, a project special purpose vehicle (SPV), for an aggregate consideration of about Rs 18.98 crore under the Tariff Based Competitive Bidding (TBCB) route.
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The acquisition done as Power Grid had emerged as the successful bidder for the project to establish an inter-state transmission system for evacuation of power from Rajasthan Renewable Energy Zone (REZ) Phase-IV, Part-5, involving 6 GW capacity at the Barmer Complex. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis.
The acquisition was completed on September 23, from REC Power Development and Consultancy Limited (RECPDCL), the Bid Process Coordinator.
The project involves establishing 6,000 MW, ±800 kV High Voltage Direct Current (HVDC) terminals at Barmer-II in Rajasthan and South Kalamb substation in Maharashtra, along with augmentation of the South Kalamb substation.
It also includes construction of an approximately 1,000-km ±800 kV HVDC bipole transmission line between Barmer-II and South Kalamb, passing through Rajasthan, Gujarat and Maharashtra. In addition, the project entails construction of 400 kV transmission lines in Rajasthan, associated bays and installation of two SynCon units at Barmer-II Power Station.
Power Grid acquired 100 percent shareholding in Barmer HVDC Power Transmission Limited. The acquisition consideration is approximately Rs 18.98 crore, including 50,000 equity shares acquired at a face value of Rs 10 each, along with the assets and liabilities of the SPV as on the acquisition date. The final acquisition price remains subject to adjustment based on the audited accounts of the company as on September 23.
Barmer HVDC Power Transmission Limited operates in the power transmission sector and was incorporated on September 30, 2025, by the Bid Process Coordinator in accordance with the Ministry of Power’s guidelines governing competition and tariff-based competitive bidding for transmission projects.
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The SPV has not yet commenced commercial operations and, therefore, has recorded no turnover during the past three years. It is expected to operate in India and will be engaged in the transmission of power.
Following the acquisition, Barmer HVDC Power Transmission Limited will need to obtain approvals from the Central Electricity Regulatory Commission (CERC) for the grant of a transmission licence and adoption of transmission charges.
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