Power Grid Corporation of India Limited (Powergrid) has acquired ER NER Transmission Limited (ETL), the project special purpose vehicle (SPV) to establish inter-state transmission system (ISTS) for system strengthening scheme for eastern and north eastern regions, on build, own, operate and transfer (BOOT) basis from the bid process coordinator – REC Power Development and Consultancy Limited (RECPDCL).
Powergrid has emerged as the successful bidder under tariff based competitive bidding (TBCB) route. The ISTS comprises of upgradation works at 400/132kV Banka (Bihar) with implementation schedule of 24 months. Further, it includes establishment of 220kV D/C transmission lines passing through the states of Assam and Arunachal Pradesh and bays extension works with implementation schedule of 36 months. The entity was acquired for aggregate value of about Rs 70.4 million.