Ashoka Buildcon Limited has acquired a 100% equity stake in Sakoli Power Transmission Limited, a special purpose vehicle (SPV) established to provide transmission services on a Build-Own-Operate-Transfer (BOOT) basis. The acquisition process was completed on September 23, 2026.
Sakoli Power Transmission Limited is a wholly owned subsidiary of REC Power Development and Consultancy Limited and was established as an SPV for the development of transmission infrastructure in Maharashtra. The company operates in the power transmission sector.
The acquisition is connected with the 400/220/132 kV AIS Sakoli project in Bhandara district, Maharashtra. Ashoka Buildcon received a Letter of Intent from REC Power Development and Consultancy Limited on August 13, 2026, for the project, which is being undertaken through a Tariff Based Competitive Bidding process.
As a condition of the project’s Request for Proposal, Ashoka Buildcon was required to purchase the shares of Sakoli Power Transmission Limited from REC Power Development and Consultancy Limited in order to undertake the project.
The acquisition was completed through a cash consideration. The total consideration was Rs. 3.06 crore, including the share purchase consideration and relevant expenses and liabilities of the SPV incurred up to the date of acquisition.
Sakoli Power Transmission Limited was incorporated on July 7, 2025, specifically to establish and develop infrastructure for the transmission system. The SPV comprises the AIS Sakoli Substation, a new 400 kV AIS Substation, and associated transmission lines.
The Scheduled Date of Commercial Operation of the SPV is 24 months from the date of acquisition.
