Power Grid acquires Bhadla Sikar Transmission Limited to establish transmission system

New Delhi: State-owned Power Grid said in a regulatory filing that it has "acquired Bhadla Sikar Transmission Limited (BSTL), the Project SPV to establish a Transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part-E, on build, own, operate and maintain (BOOM) basis from the Bid Process Coordinator - PFC Consulting Limited." The company acquired BSTL under the Tariff Based Competitive Bidding (TBCB), said the filing.

"The transmission system comprises the establishment of a new 765kV D/C Transmission line passing through the state of Rajasthan and bays extension work. The transmission system is an Inter State Transmission System Project and is to be completed in 18 months," it added.

"The entity was acquired with a net payment of about Rs 22.76 crores and the acquisition includes 10,000 equity shares at par at Rs 10 each as on the acquisition date. However, the acquisition price is subject to adjustment as per the audited accounts of the company as on the acquisition date," it added.

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