POWERGRID acquires two SPVs for renewable energy transmission projects

Gurgaon: Power Grid Corporation of India Limited (POWERGRID), a Maharatna CPSE under the Ministry of Power, Government of India, has recently acquired two Project Special Purpose Vehicles (SPVs) to execute Inter-State Transmission Projects for renewable energy under the Tariff-Based Competitive Bidding (TBCB) mechanism.

The SPV Bhadla Ramgarh Power Transmission Limited was acquired on 29th July 2026 from the Bid Process Coordinator (BPC), REC Power Development & Consultancy Limited, while the SPV Krishnagiri REZ Transmission Limited was acquired on 03rd August 2026 from the BPC, PFC Consulting Limited.

Bhadla Ramgarh Power Transmission Limited will implement the transmission system associated with the Inter-State Transmission Project Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG). This system comprises augmentation and bay extension works at existing substations—Bhadla-III (Rajasthan), Ramgarh (Rajasthan) and Kanpur (Uttar Pradesh). The project is scheduled for commissioning by 20th January 2029 and will enable integration and reliable evacuation of green power from Bhadla-III and Ramgarh pooling stations.

Krishnagiri REZ Transmission Limited will implement the transmission system linked to the Inter-State Transmission Project Transmission System for Integration of Krishnagiri REZ Phase-I. This project involves establishing two new substations in Andhra Pradesh and constructing 765 kV and 400 kV transmission lines traversing through Andhra Pradesh, Telangana and Karnataka. The system is to be commissioned within 36 months and will facilitate integration and evacuation of about 4.5 GW of renewable energy potential from the Kurnool area.

POWERGRID, through its various Project SPVs acquired under the tariff-based bidding route, is implementing several transmission projects on a Build, Own, Operate and Transfer (BOOT) basis.