Power Grid Corporation of India Ltd (PowerGrid), the state-owned power transmission major, announced on Wednesday, June 4, that it has completed the acquisition of MEL Power Transmission Ltd (MPTL) for a total consideration of ₹8.53 crore.
The acquisition was carried out under tariff-based competitive bidding (TBCB) and forms part of the transmission system to evacuate power from Mahan Energen’s generating station in Madhya Pradesh.
The deal includes the purchase of 10,000 equity shares at face value, along with MPTL’s existing assets and liabilities as of the acquisition date. PowerGrid noted that the final acquisition cost may be adjusted based on MPTL’s audited financials, which will be reviewed post-acquisition.
The project scope involves the development of a 400 kV double circuit transmission line, along with associated bays at PowerGrid’s Rewa substation in Madhya Pradesh.
The infrastructure will be developed on a BOOT (Build, Own, Operate, and Transfer) basis, in line with regulatory and contractual norms under the competitive bidding framework.
MEL Power Transmission Ltd was incorporated on November 19, 2024, by PFC Consulting Ltd (PFCCL), which acted as the designated bid process coordinator for the project. As of the acquisition date, MPTL had not commenced any commercial operations and had recorded no revenue or turnover.
The company’s business activities are closely aligned with PowerGrid’s core focus on interstate power transmission infrastructure, making the acquisition strategically relevant. PowerGrid explained that the proposal does not amount to related party transaction and the organization had no previous stake or involvement with MPTL.
PowerGrid will apply for the necessary and appropriate Central Electricity Regulatory Commission (CERC) approvals, following the acquisition, for the transfer of transmission licence and transmission charges for the project.
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