Powergrid has acquired ER NER Transmission Limited (ETL) from the bid process coordinator, REC Power Development and Consultancy Limited. ETL is a project special purpose vehicle for establishing an interstate transmission system (ISTS) under a system strengthening scheme for the eastern and north-eastern regions, on build-own-operate-transfer basis. Powergrid emerged as the successful bidder under the tariff-based competitive bidding (TBCB) route. The ISTS involves upgradation works at 400/132 kV Banka (Bihar) with an implementation schedule of 24 months. It further involves establishment of 220 kV D/C transmission lines passing through the states of Assam and Arunachal Pradesh, and bay extension works with an implementation schedule of 36 months. The entity was acquired for an aggregate value of about Rs 70.4 million.