POWERGRID Acquires Tumkur II RE Transmission Project To Integrate 2.7 GW Renewable Energy In Karnataka

Power Grid Corporation of India Limited (POWERGRID) has announced the acquisition of Tumkur II RE Transmission Limited (TRETL), strengthening its role in supporting India’s renewable energy expansion. The acquisition was completed on May 29, 2026, after POWERGRID emerged as the successful bidder under the Tariff-Based Competitive Bidding (TBCB) process. The project was transferred by PFC Consulting Limited (PFCCL), which acted as the Bid Process Coordinator. The transmission project will be implemented on a Build, Own, Operate, and Transfer (BOOT) basis.

The acquired project is aimed at strengthening the transmission system at Tumkur-II in Karnataka to facilitate the integration of an additional 2.7 GW of renewable energy capacity into the grid. The project includes the construction of a 400 kV double-circuit transmission line and various augmentation works at the Tumkur-II Pooling Station. These upgrades will include the installation of Inter-Connecting Transformers (ICTs) and additional line bays to enhance network reliability and power evacuation capabilities.

POWERGRID acquired 100% equity ownership and control of TRETL through a cash consideration of approximately Rs. 15.46 crore. The acquisition covers 10,000 equity shares with a face value of Rs. 10 each, along with the project’s assets and liabilities. The final acquisition value may be adjusted after the completion of audited financial statements.

TRETL was incorporated on September 24, 2025, as a special-purpose vehicle for the development of the transmission project. Since the company has not yet commenced commercial operations, it has not reported any revenue or turnover during the last three financial years.

Following the acquisition, the project company will seek the required approvals from the Central Electricity Regulatory Commission (CERC). These approvals include the adoption of transmission charges and the grant of a transmission licence. The project is expected to play a key role in supporting renewable energy integration in Karnataka and strengthening the state’s transmission infrastructure to meet future clean energy requirements.