What was filed
Power Grid Corporation of India told the exchanges it completed the acquisition of Krishnagiri REZ Transmission Limited on 3 August 2026, having been selected as the successful bidder under Tariff Based Competitive Bidding (TBCB). The project SPV was transferred from the Bid Process Coordinator, PFC Consulting Limited. POWERGRID said it acquired full ownership and control of the entity, which is to be developed on a build, own, operate and transfer (BOOT) basis.
The project
The SPV is to establish the "Transmission System for integration of Krishnagiri REZ Phase-I" — a renewable-energy-zone evacuation link. Its scope comprises two new 765/400kV sub-stations in Andhra Pradesh, along with 765kV and 400kV transmission lines traversing Andhra Pradesh, Telangana and Karnataka, plus associated bays. Incorporated only on 29 April 2026, the entity has yet to begin commercial operation and carries no turnover history.
Structure and approvals
POWERGRID said the transaction is an all-cash acquisition and is not a related-party transaction, as it held no prior interest in the entity. The Bid Process Coordinator obtained the approvals needed to transfer the SPV. Separately, the grant of a transmission licence and adoption of transmission charges are to be obtained from the Central Electricity Regulatory Commission after the acquisition. The filing notes the acquisition price is subject to adjustment against the company's audited accounts as on the acquisition date.