Power Grid acquires project SPV Neemuch Transmission

New Delhi: State-owned Power Grid Corporation has acquired a special purpose vehicle Neemuch Transmission which has been set up to establish an inter-state transmission link to evacuate power from Neemuch special economic zone.

Power Grid Corporation has been selected as the successful bidder under tariff-based competitive bidding for the transmission project.

The corporation on August 24 acquired Neemuch Transmission Ltd from the bid process coordinator, REC Power Development and Consultancy Ltd, a BSE filing stated.

The transmission system comprises the establishment of two 400kV DIC Transmission lines passing through the states of Rajasthan and Madhya Pradesh, a new 400/220kV pooling substation at Neemuch (Madhya Pradesh) and 400kV bay extension works, the filing said.

The transmission system is an interstate transmission system project and is to be completed in 18 months.

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