Power Grid Corporation of India Limited (POWERGRID) has acquired Barmer HVDC Power Transmission Limited, the project special purpose vehicle (SPV) established for developing an inter-State transmission system to evacuate 6 GW of renewable energy from Rajasthan Renewable Energy Zone (REZ) Phase-IV, Part-5 (Barmer Complex).
The acquisition was completed on September 23, 2026, following POWERGRID’s selection as the successful bidder under the Tariff Based Competitive Bidding (TBCB) route. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis.
The transmission project includes the establishment of 6,000 MW, ±800 kV HVDC terminals at Barmer-II in Rajasthan and South Kalamb Substation in Maharashtra, along with augmentation of the South Kalamb substation.
The project also involves construction of an approximately 1,000-km ±800 kV HVDC bipole transmission line between Barmer-II and South Kalamb, passing through Rajasthan, Gujarat and Maharashtra.
In addition, the project includes the construction of 400 kV transmission lines in Rajasthan, along with associated bays, as well as the installation of two SynCon units at Barmer-II Power Station with associated bays.
POWERGRID acquired 100% of Barmer HVDC Power Transmission Limited for an aggregate value of approximately Rs 18.98 crore. The acquisition includes 50,000 equity shares at a face value of Rs 10 each, together with the assets and liabilities of the company as of the acquisition date. The acquisition price remains subject to adjustment based on the audited accounts of the company as of September 23, 2026.
Barmer HVDC Power Transmission Limited was incorporated on September 30, 2025, and will operate in the power transmission business. The company had not commenced commercial operations at the time of acquisition and, consequently, had no recorded turnover during the preceding three years.
The acquisition expands POWERGRID’s role in developing the transmission infrastructure required for the evacuation of large-scale renewable power from Rajasthan to Maharashtra through a high-capacity HVDC transmission corridor.
