Power Grid acquires 2 key SPVs for transmission projects

27 Dec 2023 , 01:13 PM

The state-owned Power Grid Corporation said on Tuesday that it had bought two special purpose vehicles (SPV) from PFC Consulting to undertake power transmission projects, Vataman Transmission and Koppal II Gadag II Transmission.

According to two separate BSE filings, the Power Grid Corporation won these two projects through tariff-based competitive bidding conducted by PFC Consulting. 

The Koppal II Gadag II Transmission Ltd (KIIGIITL) was acquired on Tuesday to build, own, operate and transfer (BOOT) a transmission system for the Transmission Scheme for Integration of Renewable Energy Zone in Koppal-II (Phase-A & B) and Gadag II (Phase-A) in Karnataka.

On Tuesday, the Project SPV Vataman Transmission Ltd (VTL) was bought to develop a transmission system for Transmission system for evacuation of an extra 7 GW of RE electricity from Khavda RE park under Phase III Part B, on a build, operate, own and transfer (BOOT) basis.

At around 1.07 PM, Power Grid was trading 0.32% lower at Rs 232.60, against the previous close of Rs 233.35 on NSE.

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