Power Grid Corporation of India Limited (Powergrid) has acquired Gadag II transmission and Koppal II transmission, a special purpose vehicle, to implement the “system strengthening at Koppal-II and Gadag-II for integration of renewable energy generation projects” on a build, own, operate, and transfer basis.
Powergrid acquired the company for an aggregate value of Rs 132.4 million, including 10,000 equity shares at Rs 10 each, along with the associated assets and liabilities. The acquisition was completed under a tariff-based competitive bidding process conducted by PFC Consulting Limited (PFCCL). The project involves the construction of a 400 kV transmission line between Koppal-II and Gadag-II in Karnataka and the augmentation of transformation capacity at Powergrid’s substations in Koppal-II and Gadag-II.