Power Grid Corporation of India Limited (POWERGRID) has acquired Kakinada I Transmission Limited, the project-specific special purpose vehicle (SPV), from PFC Consulting Limited (PFCCL) under the tariff-based competitive bidding route.
The acquisition was completed for an aggregate value of about Rs 205 million. The SPV has been set up to implement the ‘Transmission system for proposed Green Hydrogen/Green Ammonia projects in Kakinada area (Phase-I)’. The project comprises the establishment of a new 765/400 kV gas-insulated substation along with a static synchronous compensator and associated 765 kV transmission line works in Andhra Pradesh.