Power Grid Corporation Of India Ltd.

Power Grid Corporation of India has acquired Neemuch Transmission (NTL) on August 24, 2022, the Project SPV to establish ‘Transmission System for Evacuation of Power from Neemuch SEZ’, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator - REC Power Development and Consultancy. The Transmission system comprises 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 transmission system is an Inter State Transmission System Project and is to be completed in 18 months. The entity was acquired for aggregate value of about Rs 17.23 crore including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of the Company as on the acquisition date.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.