Power Grid acquires transmission Project in Rajasthan through TBCB

Power Grid Corporation of India Ltd has acquired a transmission project in Rajasthan. The project has been secured through tariff-based competitive bidding.

Power Grid said in an exchange filing. "Power Grid Corporation of India has acquired 'Bikaner A Power Transmission Ltd (BATPL) to establish a Transmission system for evacuation of power from Rajasthan REZ Ph -IV (Part-3: 6 GW) (Bikaner complex) Part A," it added. "REC Power Development and Consultancy Limited (RECPDCL), an arm of REC, was the bid process coordinator."

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BATPL was acquired for an aggregate value of about Rs. 18.47 Cr. including 50,000 equity shares at par at Rs. 10/- each along with assets and liabilities of BAPTL as of the acquisition date (11.11.2024). However, the acquisition price is subject to adjustment as per the audited accounts of BAPTL as of the acquisition date.

BAPTL was incorporated on 14/05/2024 by the Bid Process Coordinator. The entity has yet to start commercial operation, as such no turnover has been recorded during the last 3 years. 

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