POWERGRID Acquires Bhadla Ramgarh Power Transmission Project

GURUGRAM, India — Power Grid Corporation of India Limited (POWERGRID) announced on July 29, 2026, that it has completed the acquisition of Bhadla Ramgarh Power Transmission Limited for approximately ₹12.86 crore. The project Special Purpose Vehicle (SPV) was acquired on a Build, Own, Operate and Transfer (BOOT) basis after POWERGRID emerged as the successful bidder under Tariff-Based Competitive Bidding (TBCB).

The acquisition was executed with the Bid Process Coordinator, REC Power Development and Consultancy Limited (RECPDCL). The transaction transfers 100% equity shareholding and management control of the SPV to POWERGRID, reinforcing the state-run power transmission company's grid infrastructure footprint across Western and Northern India.

Strategic Infrastructure Augmentation and Project Scope

The acquisition of Bhadla Ramgarh Power Transmission Limited forms part of the national mandate to augment inter-state transmission systems. The inter-state transmission system project is designed specifically for "Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)".

According to statutory disclosures, the infrastructure project encompasses targeted expansion works across two key northern states:

• Bhadla-III Substation (Rajasthan): Substation augmentation and bay extension works to support renewable energy evacuation capacity.

• Ramgarh Substation (Rajasthan): Infrastructure bay extensions to facilitate high-voltage power transfers.

• Kanpur Substation (Uttar Pradesh): Substation integration and bay extension works to enhance regional power distribution efficiency.

Regulatory Clearances and Transaction Valuation

Bhadla Ramgarh Power Transmission Limited was incorporated on May 8, 2026, by RECPDCL in accordance with guidelines issued by the Ministry of Power. Since the SPV was established specifically for project execution, it has not commenced commercial operations and recorded no prior turnover.

The acquisition price of approximately ₹12.86 crore covers 50,000 equity shares purchased at par (₹10 per share) along with all existing assets and liabilities as of the acquisition date. The final acquisition price remains subject to adjustment based on the audited financial statements of the SPV.

Following the acquisition, the SPV will apply to the Central Electricity Regulatory Commission (CERC) for the formal grant of a transmission license and the adoption of transmission charges.

Official Sources Section

The information presented in this report is based on regulatory filings submitted by Power Grid Corporation of India Limited to BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on July 29, 2026. Further corporate disclosures are published on the POWERGRID Official Website and the Ministry of Power portal.

Quote Section

"According to officials, Power Grid Corporation of India Limited acquired 100% equity stake in Bhadla Ramgarh Power Transmission Limited for an aggregate value of about ₹12.86 crore following its selection as the successful bidder under Tariff-Based Competitive Bidding," stated Company Secretary and Compliance Officer Anjana Luthra in a regulatory disclosure.

Why It Matters

The acquisition strengthens India's national power grid by expanding sub-station capacity in major renewable energy hubs such as Rajasthan and industrial demand centers like Uttar Pradesh. Enhancing transmission bay infrastructure enables smoother inter-state power flow and reduces grid congestion, benefiting power distribution utilities and end-consumers.

Key Facts at a Glance

• Transaction Completed: POWERGRID acquired 100% stake in Bhadla Ramgarh Power Transmission Limited on July 29, 2026.

• Acquisition Cost: Approximately ₹12.86 crore, including 50,000 equity shares at par value.

• Project Scope: Bay extension and augmentation at Bhadla-III (Rajasthan), Ramgarh (Rajasthan), and Kanpur (Uttar Pradesh).

• Bidding Route: Tariff-Based Competitive Bidding (TBCB) on Build, Own, Operate and Transfer (BOOT) framework.

• Process Coordinator: Transfer facilitated by REC Power Development and Consultancy Limited.

Frequently Asked Questions (FAQ)

What project was acquired by POWERGRID?

POWERGRID acquired Bhadla Ramgarh Power Transmission Limited, an SPV established for inter-state transmission system augmentation at Bhadla-III, Ramgarh, and Kanpur.

How much did POWERGRID pay for the acquisition?

The company paid an aggregate value of approximately ₹12.86 crore, including 50,000 equity shares at ₹10 each along with project assets and liabilities.

Which regulatory body will oversee the project's licensing?

The SPV will seek necessary regulatory approvals for a transmission license and adoption of transmission charges from the Central Electricity Regulatory Commission (CERC).

Source: BSE Limited, National Stock Exchange of India Limited, POWERGRID Official Website, Ministry of Power, Central Electricity Regulatory Commission