Power Grid Bags Transmission Project in Rajasthan

14 Nov 2024

Power Grid Corporation of India Ltd. on Monday said it has secured a transmission project in Rajasthan. The project has been bagged through tariff-based competitive bidding, as per a filing with the stock exchange.

It added, "Power Grid Corporation of India has taken over 'Bikaner a Power Transmission Ltd. (BATPL)' to set up a transmission system for the evacuation of power from the Rajasthan REZ Ph-IV (Part-3: 6 GW) (Bikaner Complex) Part A." REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC, was the coordinator for the bidding process.

The acquisition of BATPL was made for a total consideration of approximately Rs 18.47 crore, which includes 50,000 equity shares at a par value of Rs 10/- per share, along with the assets and liabilities of BAPTL as of the acquisition date (November 11, 2024). However, the final acquisition price is subject to adjustments based on the audited financial statements of BAPTL as of the acquisition date.