Power Grid Corporation of India Limited (POWERGRID) acquired SR and ER Power Transmission Limited (SRERPTL) on Tuesday, strengthening inter-regional power transmission between the Southern and Eastern Grids. The acquisition, valued at approximately ₹19.63 crore, was completed under the Tariff-Based Competitive Bidding (TBCB) route.
SRERPTL will implement the project titled “Inter-Regional Strengthening between SR Grid and ER Grid” on a Build, Own, Operate, and Transfer (BOOT) basis. The project involves the development of 765 kV double-circuit transmission lines passing through Odisha and Andhra Pradesh, along with associated line bays and reactor works at both ends.
POWERGRID was selected as the successful bidder through the TBCB process, following which it acquired 100% shareholding and control of SRERPTL. The acquisition cost of approximately ₹19.63 crore includes 10,000 equity shares at par value of ₹10 each, along with all assets and liabilities of SRERPTL as on the acquisition date. The final consideration is subject to adjustments based on the audited accounts of the company.
SRERPTL will be engaged in the business of power transmission. The company was incorporated on August 22, 2025, by the Bid Process Coordinator and is currently in the pre-operational stage, with no turnover recorded so far. Its operations will be based in India.
