Power Grid acquires Krishnagiri REZ Transmission SPV under TBCB for Rs 19.82 crore

New Delhi: Power Grid Corporation of India Limited (PGCIL) on Monday said that it has acquired Krishnagiri REZ Transmission Limited (KRTL), the Special Purpose Vehicle (SPV) for implementing the "Transmission System for Integration of Krishnagiri REZ Phase-I" project. The state-owned transmission utility had secured the project after emerging as the successful bidder under the Tariff-Based Competitive Bidding (TBCB) route.

Follow The PSUWatch Channel on WhatsApp

The acquisition was completed on August 3, 2026, from PFC Consulting Limited (PFCCL), the bid process coordinator, for an aggregate consideration of approximately Rs 19.82 crore, subject to adjustments in accordance with the Share Purchase Agreement.

The project will be implemented on a Build, Own, Operate and Transfer (BOOT) basis and involves the establishment of two new 765/400 kV substations in Andhra Pradesh. It also includes the construction of 765 kV and 400 kV transmission lines traversing Andhra Pradesh, Telangana and Karnataka, along with associated bays, to facilitate the integration of renewable energy from the Krishnagiri Renewable Energy Zone (REZ) Phase-I.

Follow PSU Watch on LinkedIN

According to the regulatory filing, Power Grid acquired 100 percent equity in Krishnagiri REZ Transmission Limited for an aggregate consideration of about Rs 19.82 crore, including 10,000 equity shares of Rs 10 each at par, along with the SPV's assets and liabilities as on the acquisition date. The company said the acquisition price remains subject to adjustment based on the audited accounts of the SPV as on August 3, 2026.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)