Power Grid Corporation of India Limited (POWERGRID) has acquired Krishnagiri REZ Transmission Limited (KRTL) after emerging as the successful bidder under the Tariff-Based Competitive Bidding (TBCB) process. The acquisition enables POWERGRID to establish the Inter-State Transmission System (ISTS) for the Transmission System for Integration of Krishnagiri REZ Phase-I on a Build, Own, Operate and Transfer (BOOT) basis.
The transmission project comprises the establishment of two new 765/400 kV substations in Andhra Pradesh. It also includes the construction of 765 kV and 400 kV transmission lines traversing Andhra Pradesh, Telangana and Karnataka, along with associated transmission bays. The project is intended to facilitate the integration of renewable energy from the Krishnagiri Renewable Energy Zone (REZ) Phase-I through the development of interstate transmission infrastructure.
Krishnagiri REZ Transmission Limited, incorporated on April 29, 2026, is a special purpose vehicle (SPV) established for the implementation of the transmission project. Following its acquisition by POWERGRID, the company shall be engaged in the business of power transmission for the execution of the project in India. As the company is yet to commence commercial operations, it has not recorded any turnover since its incorporation.
POWERGRID acquired a 100% equity stake in Krishnagiri REZ Transmission Limited for an aggregate consideration of approximately ₹19.82 crore, which includes 10,000 equity shares of ₹10 each, along with the company’s assets and liabilities as on the acquisition date. The acquisition value is subject to adjustment based on the audited accounts of the company as on the acquisition date.
The acquisition marks the transfer of the project SPV to POWERGRID for the development of the transmission system associated with the Krishnagiri REZ Phase-I project, strengthening the infrastructure required for renewable energy integration across the project corridor.
