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India: PGCIL acquires Sikar-II Aligarh Transmission

Power Grid Corporation of India (PGCIL) has acquired Sikar-II Aligarh Transmission (SATL).

 

SATL is the project SPV to establish Transmission System Strengthening Scheme for Evacuation of Power from Solar Energy Zones in Rajasthan (8.1 GW) under Phase-II Part-D, on build, own, operate and maintain (BOOM) basis from the bid process coordinator – PFC Consulting.

 

The entity was acquired for aggregate value of about Rs 21.56 crore, including 10,000 equity shares at par at Rs 10 each along with assets and liabilities of the company.

 

The acquisition came after Power Grid was selected as the successful bidder under tariff based competitive bidding.

 

The transmission system comprises establishment of a 765 kV D/C transmission line, and substation extension works in Rajasthan and Uttar Pradesh. The transmission system is an Inter State Transmission System Project and is to be completed in 18 months.

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