Power Grid Corporation of India Limited (POWERGRID) has successfully acquired Krishnagiri REZ Transmission Limited for approximately ₹19.82 Crore. This acquisition, following POWERGRID’s selection as the successful bidder under Tariff Based Competitive Bidding, includes 10,000 equity shares and the associated assets and liabilities of the SPV. Krishnagiri REZ Transmission Limited will establish an Inter-State Transmission system, reinforcing POWERGRID’s commitment to expanding its power transmission network.
POWERGRID Expands Transmission Network
Power Grid Corporation of India Limited (POWERGRID) has announced the successful acquisition of Krishnagiri REZ Transmission Limited. This strategic move was finalized on August 3, 2026, after POWERGRID emerged as the winning bidder in a Tariff Based Competitive Bidding process. The acquired entity, Krishnagiri REZ Transmission Limited, will serve as the Project SPV responsible for establishing a crucial Inter-State Transmission system.
Project Details and Rationale
The project, named “Transmission System for integration of Krishnagiri REZ Phase-I,” will be developed on a build, own, operate and transfer (BOOT) basis. It involves the establishment of two new 765/400kV Sub-stations and the construction of 765kV & 400kV transmission lines across Andhra Pradesh, Telangana, and Karnataka. The acquisition aligns with POWERGRID’s core business of power transmission and aims to enhance the grid’s capacity and efficiency.
Acquisition Value and Structure
Krishnagiri REZ Transmission Limited was acquired for an aggregate value of approximately ₹19.82 Crore. This consideration includes 10,000 equity shares at par, valued at Rs. 10/- each, along with the assets and liabilities of the Special Purpose Vehicle as of the acquisition date. The acquisition price is subject to adjustments based on the company’s audited accounts.
Entity Background
Krishnagiri REZ Transmission Limited was incorporated on April 29, 2026, by the Bid Process Coordinator. The entity is yet to commence commercial operations, and therefore, no turnover has been recorded in the last three years. Its operations will be based in India.
Source: BSE
