29-Jun-2026 19:19:31
POWERGRID : ACQUISITION OF KAKINADA I TRANSMISSION LIMITED WORTH OVER RS 20.50 CR
• POWERGRID acquired Kakinada I Transmission Limited (KITL) on 29.06.2026 as the successful bidder under Tariff based competitive bidding. • KITL is the Project SPV to establish a "Transmission system for proposed Green Hydrogen / Green Ammonia projects in Kakinada area (Phase-I)". • The project includes a new 765/400kV GIS Sub-station along with STATCOM and 765kV transmission line works in Andhra Pradesh. • KITL was acquired for an aggregate value of about ₹20.50 Cr, including 10,000 equity shares at par at ₹10/- each, along with assets and liabilities of KITL as on the acquisition date. • The acquisition price is subject to adjustment as per the audited accounts of the Company as on the acquisition date. • KITL was incorporated on 20.02.2025 and is yet to start commercial operations; no turnover has been recorded in the last 3 years. • Approvals for Grant of Transmission License and Adoption of Transmission Charges are to be obtained from Central Electricity Regulatory Commission by KITL after the acquisition.
Power Grid Corporation of India Ltd
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