Power Grid Corp Acquires Rajasthan IV 4A Power Transmission Project
Dec 30, 2024 19:04
Power Grid Corporation of India acquired the project special purpose vehicle (SPV) Rajasthan IV 4A Power Transmission Ltd (RIV4APTL) for Rs 18.37 crore. The project involves the establishment of a transmission system for evacuation of power from Rajasthan REZ Ph-IV.
Photograph: Courtesy Power Grid Corporation
New Delhi, Dec 30 (PTI) State-owned Power Grid Corporation of India on Monday acquired project special purpose vehicle (SPV) Rajasthan IV 4A Power Transmission Ltd (RIV4APTL).
The project SPV is incorporated to establish a 'Transmission System for evacuation of power from Rajasthan REZ Ph-IV (Part-4: 3.5 GW): Part A', on a build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator - REC Power Development and Consultancy Ltd (RECPDCL), according to a regulatory filing.
The project comprises establishment of 765/400kV sub-station at a suitable location near Ghiror, Mainpuri district in Uttar Pradesh, 765kV & 400kV Transmission lines traversing in Rajasthan and UP, augmentation and bay extension works at various under-construction and existing substations in Rajasthan and UP.
RIV4APTL was acquired for an aggregate value of about Rs 18.37 crore, including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of RIV4APTL as of December 30, 2024.
RIV4APTL was incorporated on August 6, 2024, by the bid process coordinator.
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