What was filed
Power Grid Corporation of India told the exchanges that on 12 October 2026 it acquired Lakadia C Power Transmission Limited, the project special-purpose vehicle for an inter-state transmission project, after emerging as the successful bidder under tariff-based competitive bidding (TBCB). The SPV was transferred from the Bid Process Coordinator, PFC Consulting Limited, on a build, own, operate and transfer (BOOT) basis, with POWERGRID taking full control for cash consideration.
What the project involves
Per the filing, the project is the "Part-C" of a common transmission system to evacuate power from the Lakadia, Jam Khambhaliya and Jamnagar renewable zones. The physical scope is a new 765/400/220 kV Alephata substation in Maharashtra, together with 765 kV and 400 kV transmission lines running through the state and the associated equipment and bays. The SPV was newly incorporated in April 2026, has not begun commercial operation and has recorded no turnover — it is a vehicle to execute this specific project rather than an operating business.
Approvals still pending
The company noted that approvals for the grant of a transmission licence and for adoption of transmission charges are still to be obtained from the Central Electricity Regulatory Commission after the acquisition. The stated acquisition price is also subject to adjustment against the SPV's audited accounts as on the acquisition date, so the disclosed figure is an indicative aggregate rather than a final settled amount.