POWERGRID acquires NES Pune EN transmission under TBCB route

Power Grid Corporation of India Limited (POWERGRID) has acquired NES Pune East New Transmission Limited, the special purpose vehicle (SPV) set up for the transmission project involving the network expansion scheme in Maharashtra for the removal of transmission constraints in Pune Region I on a build-own-operate-transfer basis. The project comprises the establishment of a 765/400 kV air-insulated substation in Ahilyanagar district, 765 kV and 400 kV transmission lines in Maharashtra, and bay extension works at existing substations in the state. POWERGRID acquired 100 per cent equity in the SPV from PFC Consulting Limited for about Rs 80.5 million, subject to adjustment based on audited accounts as on the acquisition date.