Power Grid Corporation of India Limited announced on 29 May 2026 that it has acquired Tumkur II RE Transmission Limited, a special purpose vehicle, under the Tariff Based Competitive Bidding route. The acquisition was completed on a Build, Own, Operate and Transfer basis.
The project involves establishing a Transmission System Strengthening at Tumkur-II for Integration of Additional RE Potential of 2.7 GW in Karnataka. The infrastructure includes a 400 kV D/c Transmission Line and augmentation works at Tumkur-II Pooling Station, such as ICTs and Line Bays.
POWERGRID acquired 100% of TRETL for an aggregate consideration of approximately Rs 15.46 crore, which includes 10,000 equity shares at par value of Rs 10 each. The acquisition price is subject to adjustment based on the audited accounts as of the acquisition date of 29 May 2026.
PFC Consulting Limited acted as the Bid Process Coordinator for the transaction. TRETL was incorporated on 24 September 2025 and is yet to commence commercial operations, with no turnover recorded in the past three years.
TRETL will be engaged in the business of power transmission in India. Approvals for the Grant of Transmission License and Adoption of Transmission Charges are to be obtained from the Central Electricity Regulatory Commission by TRETL following the acquisition.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.