Power Grid Corporation of India Limited (POWERGRID) has acquired NES Pune East New Transmission Limited (NPENTL), a special purpose vehicle (SPV), after emerging as the successful bidder under the Tariff Based Competitive Bidding (TBCB) route. The acquisition was completed on March 12, 2026, from PFC Consulting Limited, the Bid Process Coordinator for the project.
The SPV will develop the “Network Expansion Scheme in Maharashtra for Removal of Transmission Constraints in Pune Region-I (765/400 kV AIS Pune East)” on a Build, Own, Operate and Transfer (BOOT) basis. The project is aimed at strengthening the transmission network and addressing power evacuation constraints in the Pune region of Maharashtra.
POWERGRID acquired the SPV for an aggregate value of approximately ₹8.05 crore, which includes 10,000 equity shares at a face value of ₹10 each, along with the assets and liabilities of NPENTL as on the acquisition date. The final acquisition value remains subject to adjustment based on the audited financial statements of the company as of March 12, 2026.
The acquisition gives POWERGRID 100% shareholding and control of NPENTL. Prior to the transaction, the company had no related-party interest in the entity, and the deal does not fall under related-party transactions.
NPENTL was incorporated on March 29, 2025, by the Bid Process Coordinator in line with the Ministry of Power’s guidelines encouraging competition in transmission project development under the TBCB framework. The company is yet to begin commercial operations and has not recorded any turnover since incorporation.
Following the acquisition, NPENTL will seek regulatory approvals from the Maharashtra Electricity Regulatory Commission for the grant of a transmission licence and adoption of transmission charges for the project.
The development aligns with POWERGRID’s core business of power transmission and is expected to enhance grid infrastructure and support growing electricity demand in the Pune region of Maharashtra.
