Power Grid Acquires Fatehgarh II Transmission Limited for ₹19.11 Crore
Power Grid Corporation of India Limited acquired Fatehgarh II Transmission Limited for approximately ₹19.11 Crore on August 28, 2026. The acquisition includes 100% shareholding and involves the establishment of transmission systems for two Synchronous Condensers at Fatehgarh-II PS. The SPV was incorporated on May 6, 2026, and is yet to commence operations.
The acquisition of a transmission project is strategically important for POWERGRID's expansion and network strengthening. The financial value, while significant, is moderate in the context of the company's overall scale, hence a medium impact.
The acquisition of a project SPV is a positive development for POWERGRID, indicating expansion and strategic growth in the power transmission sector.
Power Grid Corporation of India Limited (POWERGRID) has announced the acquisition of Fatehgarh II Transmission Limited, a Project SPV (Special Purpose Vehicle), on August 28, 2026. This acquisition was made under the Tariff Based Competitive Bidding (TBCB) route, following POWERGRID's selection as the successful bidder.
The project involves the establishment of an Inter-State Transmission system for the installation of two Synchronous Condenser (SynCon) units at the 765/400/220kV Fatehgarh-II PS on a build, own, operate, and transfer (BOOT) basis. The bid process coordinator for this project was PFC Consulting Limited (PFCCL).
Fatehgarh II Transmission Limited was incorporated on May 6, 2026, by the Bid Process Coordinator. The company is engaged in the power transmission business, aligning with POWERGRID's core operations. As it has not yet commenced commercial operations, no turnover has been recorded in the last three years.
The acquisition was completed for an aggregate value of approximately ₹19.11 Crore. This includes 10,000 equity shares acquired at par (₹10 each), along with the assets and liabilities of Fatehgarh II Transmission Limited as of the acquisition date. The acquisition price is subject to adjustments based on the audited accounts of the company as of the acquisition date. POWERGRID has acquired 100% shareholding and control in Fatehgarh II Transmission Limited.
Key approvals for the transfer of Fatehgarh II Transmission Limited were obtained by the Bid Process Coordinator. However, Fatehgarh II Transmission Limited will need to obtain approvals for the Grant of Transmission License and Adoption of Transmission Charges from the Central Electricity Regulatory Commission post-acquisition by POWERGRID.
A plain-language summary of a public exchange filing by Power Grid Corporation of India Limited. Read the original for the full detail.