M&A

M&A

Power Grid acquires ETL under TBCB route for Rs.7-Cr

BSE Disclosure  

Power Grid Corporation of India Ltd, as the successful bidder under tariff-based competitive bidding (TBCB), has acquired ER NER Transmission Ltd (ETL), the project SPV to set up Inter-State Transmission System for System Strengthening Scheme for the Eastern and North Eastern regions, from the bid process coordinator REC Power Development and Consultancy Ltd. The entity was acquired on a build, own, operate and transfer (BOOT) basis for INR 7.04 crore including 50,000 equity shares at par at INR 10 each along with assets and liabilities of the company. The Inter State Transmission System comprises of upgradation works at 400/132kV Banka (Bihar) with an implementation schedule of 24 months and establishment of 220kV D/C Transmission lines passing through Assam and Arunachal Pradesh.