Power Grid acquires three SPVs for infrastructure enhancement

Power Grid Corporation of India has acquired three special purpose vehicles (SPVs) to boost power infrastructure in five Indian states. The total cost of these acquisitions is approximately Rs 43.73 crore. The states affected include Gujarat, Andhra Pradesh, Karnataka, Rajasthan, and Madhya Pradesh. On March 24, Power Grid acquired Banaskantha Transco Limited for about Rs 6.54 crore. This project will increase transformation capacity in Gujarat. The project will follow a Build, Own, Operate, and Transfer (BOOT) model, allowing Power Grid to manage the infrastructure. Power Grid also acquired Kurnool-IV Transmission for around Rs 18.56 crore. This project will help strengthen power infrastructure in southern India. It will involve new substations and transmission lines in Andhra Pradesh and Karnataka, also under the BOOT model. Lastly, Power Grid purchased Rajasthan V Power Transmission for about Rs 18.63 crore. This project aims to improve power evacuation from Rajasthan’s renewable energy zones. It includes upgrading the Sirohi substation and building new transmission lines in Rajasthan and Madhya Pradesh. These acquisitions are expected to enhance electricity supply and infrastructure in these regions. Power Grid's shares may attract attention from investors following this announcement.