Power Grid Corporation Of India Ltd.

Power Grid Corporation of India has acquired Davanagere Power Transmission (DPTL), the Project SPV to establish ‘Transmission System Strengthening at Davanagere for Integration of RE Generation’, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator - REC Power Development and Consultancy (RECPDCL). The project comprises augmentation works at under-construction sub-station (Davanagere PS) in the state of Karnataka.

DPTL has been acquired by the company after it emerged as the successful bidder under Tariff Based Competitive Bidding. DPTL is engaged in the business as that of PowerGrid i.e. transmission of power. DPTL has been acquired for an aggregate value of about Rs 6.53 crore including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of DPTL.

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