Power Grid acquires MEL Power Transmission for Madhya Pradesh project

New Delhi: Power Grid Corporation of India Limited (POWERGRID), a Maharatna CPSE under the Ministry of Power, has announced the acquisition of MEL Power Transmission Limited (MPTL), a Special Purpose Vehicle (SPV), for implementing a major transmission project in Madhya Pradesh.

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The acquisition was carried out on June 4, 2025, following POWERGRID’s selection as the successful bidder through the Tariff-Based Competitive Bidding (TBCB) route. The SPV was transferred by PFC Consulting Limited (PFCCL), which acted as the Bid Process Coordinator.

The project, titled “Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh,” will be executed on a build, own, operate, and transfer (BOOT) basis. It involves the establishment of a 400 kV double circuit transmission line and associated bays at the existing Rewa Powergrid sub-station.

The total acquisition cost stands at approximately Rs 8.53 crore, which includes 10,000 equity shares acquired at face value along with the assets and liabilities of MPTL as of the acquisition date. The final price is subject to adjustments based on audited financials.

The transaction does not qualify as a related party deal, and Power Grid confirmed that it had no prior interest in MPTL. The acquisition aligns with the company’s core business of power transmission and enhances its portfolio of transmission assets across the country.

MPTL was incorporated on November 19, 2024, by PFCCL and has not yet commenced commercial operations. It will now apply for necessary approvals from the Central Electricity Regulatory Commission (CERC) for a transmission license and adoption of transmission charges.

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