POWERGRID Seals Deal to Acquire Davanagere Power Transmission SPV for ₹65.3 Million

Power Grid Corporation of India Limited (POWERGRID) has taken a strategic stride in expanding its renewable energy transmission network by acquiring Davanagere Power Transmission Limited (DPTL) for approximately ₹65.3 million (₹6.53 crore) on September 24, 2025. The acquisition was executed under the tariff-based competitive bidding (TBCB) process, marking a vital enhancement to POWERGRID’s infrastructure for integrating renewable energy sources in Karnataka.

Key Highlights of the Acquisition
- POWERGRID has acquired 100% equity shares (50,000 shares at ₹10 each) and all assets and liabilities of DPTL, a special purpose vehicle (SPV) formed to develop the "Transmission System Strengthening at Davanagere for Integration of Renewable Energy Generation" project.
- The project involves augmentation works at the under-construction Davanagere sub-station, executed on a build, own, operate, and transfer (BOOT) basis, aimed at improving transmission capacity to support renewable energy evacuation.
- POWERGRID will now seek the Central Electricity Regulatory Commission’s approvals for the transmission license and transmission charge adoption.
- This transaction strengthens POWERGRID's footprint in Karnataka and aligns with India's broader push to develop robust infrastructure facilitating renewable energy growth.

This acquisition not only underscores POWERGRID's growing dominance in India's power transmission sector but also reflects the continuing efforts to build a seamless grid capable of integrating increasing renewable capacities. The project’s estimated cost stands at ₹366.26 crore, demonstrating a significant infrastructure investment focused on green energy integration in the region.

Source: Reuters, PTI, Power Grid Corporation official disclosures