Power Grid Corporation Of India Ltd.

Power Grid Corporation of India, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on February 9, 2024 acquired Bidar Transmission, the Project SPV to establish Transmission System for ‘Transmission Scheme for Solar Energy Zone in Bidar (2500 MW), Karnataka’, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator – REC Power Development and Consultancy.

The scope of the project comprises establishment of new 765/400/220 kV sub-station at Bidar, 765kV D/C Transmission Line and associated bays extension works at other existing substation in the states of Karnataka & Telangana. The entity was acquired for an aggregate value of about Rs 18.88 crore including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of the company as on February 9, 2024. 

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