Power Grid acquires 2 SPVs to implement transmission projects

New Delhi: Maharatna power PSU Power Grid Corporation Limited (PGCIL) on Tuesday said that it has acquired two special purpose vehicles (SPV) to implement power transmission projects namely - Vataman Transmission and Koppal II Gadag II Transmission from PFC Consulting.

Public Sector's voice PSU Watch is now on Whatsapp Channels. Click here to join

The Power Grid Corporation had bagged these two projects under tariff-based competitive bidding conducted by PFC Consulting, two separate BSE filings showed.

The Koppal II Gadag II Transmission Ltd (KIIGIITL) was acquired on Tuesday to establish a transmission system for 'Transmission Scheme for Integration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-A & B) and GadagII (Phase-A) in Karnataka', on build, own, operate and transfer (BOOT) basis", it explained.

The Vataman Transmission Ltd (VTL), the Project SPV is acquired on Tuesday to establish transmission system for 'Transmission system for evacuation of additional 7 GW of RE power from Khavda RE park under Phase III Part B', on build, own, operate and transfer (BOOT) basis.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)