State-owned Power Grid Corporation on Thursday said it has acquired Bikaner-II Bhiwadi Transco Ltd (BBTL) which would implement a power transmission project.
“Power Grid Corporation of India Ltd, pursuant to its selection as the successful bidder under tariff based competitive bidding, has on 25.03.2021 acquired BBTL,” it said in a regulatory filing.
BBTL is the project SPV to establish transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II, on build, own, operate and maintain (BOOM) basis from the bid process coordinator – PFC Consulting, it added.
The entity was acquired for aggregate value of about Rs 20.50 crore including 10,000 equity shares at par at Rs 10 each along with assets and liabilities of the company, it said.
However, it said the acquisition price is subject to adjustment as per the audited accounts of the company as on the acquisition date.