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.