Power Grid Corporation of India Limited has announced the acquisition of NES Pune East New Transmission Limited on March 12, 2026. The acquisition follows the company’s selection as the successful bidder under the Tariff Based Competitive Bidding (TBCB) process. The project will be implemented on a Build, Own, Operate, and Transfer (BOOT) basis. The acquisition was completed from PFC Consulting Limited, which served as the bid process coordinator for the project.
NPENTL has been created as a Special Purpose Vehicle to implement an important transmission network expansion project in the state of Maharashtra. The main objective of the project is to address and remove transmission constraints in the Pune region, which has been witnessing increasing electricity demand due to rapid industrial and urban growth.
As part of the project scope, a new 765/400 kV Air Insulated Substation (AIS) will be developed in the Ahilyanagar district of Maharashtra. In addition to the substation, the project also includes the construction of new 765 kV and 400 kV transmission lines across the state. The scope further involves bay extension works at certain existing substations to support the integration of the new transmission infrastructure into the grid.
The financial details of the acquisition indicate that POWERGRID acquired 100 percent shareholding in NPENTL for an aggregate value of around Rs. 8.05 crore. The transaction includes 10,000 equity shares with a face value of Rs. 10 each. However, the final acquisition price may be subject to adjustments based on the audited financial statements as of the acquisition date. The transaction was completed through cash consideration and does not involve any related party transactions.
NPENTL was incorporated on March 29, 2025, and has not yet started commercial operations. As a result, the company has not recorded any turnover during the last three financial years. After the acquisition, the entity will continue to operate in the power transmission sector in India. The company will now proceed with obtaining the required approvals, including a transmission license and the adoption of transmission charges from the Maharashtra Electricity Regulatory Commission.
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