Power Grid Corporation of India Limited (Powergrid) has acquired Banaskantha Transco Limited (BTL), a special purpose vehicle, through the tariff-based competitive bidding route for transmission development on a build, own, operate, and transfer basis.
The scope of project includes “augmentation of transformation capacity at Banaskantha (Raghanesda) PS (GIS)” project. The scope of the project includes ICT augmentation works at the existing Banaskantha (Raghanesda) Power Station (GIS) located in the state of Gujarat. The acquisition was facilitated by REC Power Development and Consultancy Limited as the bid process coordinator. BTL was acquired for an aggregate value of approximately Rs 65.4 million, which includes 50,000 equity shares at par value along with its assets and liabilities as of the acquisition date.