Power Grid Corporation of India Limited (Powergrid) has acquired Khavda V-B1B2 power transmission Limited (KVB1B2) power transmission, a special purpose vehicle, to implement the augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 scheme) on a build, own, operate, and transfer (BOOT) basis.
Powergrid acquired the company for an aggregate value of Rs 651 million, including 50,000 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 REC Power Development and Consultancy Limited. The project involves augmentation works at under-construction substations in Gujarat, with Powergrid taking over the transmission license and associated regulatory approvals post-acquisition.