POWER GRID Completes Acquisition of SR–ER Transmission Project SPV
POWER GRID Corporation of India Ltd (PGCIL) has completed the acquisition of SR and ER Power Transmission Ltd (SRERPTL), a special purpose vehicle established to strengthen inter-regional electricity transmission between India’s Southern Region (SR) and Eastern Region (ER) grids.
The acquisition follows POWER GRID’s selection as the successful bidder under the Tariff-Based Competitive Bidding (TBCB) framework. The company acquired the project SPV from PFC Consulting Limited (PFCCL) on a Build, Own, Operate and Transfer (BOOT) basis, according to a regulatory filing to stock exchanges.
POWER GRID acquired 100 percent equity in SRERPTL for an aggregate consideration of approximately USD 2.4 million (₹19.63 crore). The consideration includes 10,000 equity shares with a face value of approximately USD 0.12 each (₹10 per share), along with the assets and liabilities of the SPV as on the acquisition date. The final acquisition value remains subject to adjustment based on audited accounts.
The project, titled “Inter-Regional Strengthening between SR Grid and ER Grid,” involves the development of 765 kV double-circuit transmission lines passing through Odisha and Andhra Pradesh, along with associated line bays and reactor installations at both ends.
The transmission scheme is aimed at improving grid reliability and enhancing power transfer capability between the Southern and Eastern regio
Source: psuwatch.com
