IndiGrid to acquire 74 per cent stake in Parbati Koldam

India Grid Trust has signed an agreement to acquire 74 per cent stake in Parbati Koldam Transmission Company Limited (PKTCL) from Reliance Infrastructure Limited at an enterprise value of Rs 9 billion .

PKTCL, incorporated on September 2, 2002, is a joint venture between Reliance Infrastructure Limited (74 per cent) and Power Grid Corporation of India Limited (26 per cent). PKTCL operates 458 ckt km of transmission lines constituting inter-state transmission system for evacuation of power from the Parbati-II hydroelectric project (HEP) implemented by NHPC Limited and Koldam HEP implemented by NTPC Limited. The completion of acquisition would depend upon receipt of relevant approvals and completion of contractual obligations.

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