POWERGRID acquires WR-ER Part A transmission SPV for about Rs 18.62 Cr

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AI summary

POWERGRID has acquired 100 percent of WR ER Part A Power Transmission Limited, a project SPV, under the Tariff Based Competitive Bidding route for about Rs 18.62 Crore in cash from RECPDCL. The project covers two new 765/400kV sub-stations in Jharkhand and Chhattisgarh, extension of existing sub-stations in Chhattisgarh and West Bengal, and 765kV and 400kV transmission lines passing through Jharkhand, Chhattisgarh, and Odisha on a BOOT basis. The SPV is not yet operational and sits in POWERGRID's core power transmission line of business.

Likely market impact

Strengthens POWERGRID's inter-state transmission footprint in eastern and central India, adding to its project pipeline and future regulated revenue base.