Power Grid Corporation of India Limited (POWERGRID) has completed the acquisition of Barmer HVDC Power Transmission Limited, strengthening its role in developing transmission infrastructure for large-scale renewable energy projects. The acquisition was completed on September 23, 2026, through a Tariff-Based Competitive Bidding (TBCB) process on a Build, Own, Operate and Transfer (BOOT) basis.
POWERGRID acquired 100% of the equity shareholding in Barmer HVDC Power Transmission Limited from REC Power Development and Consultancy Limited (RECPDCL), the designated Bid Process Coordinator for the project. The total acquisition cost is approximately ₹18.98 crore, including the purchase of 50,000 equity shares with a face value of ₹10 each and the takeover of the company’s assets and liabilities as of the acquisition date. The final consideration will be subject to customary adjustments following completion of the audit of the company’s accounts as of the transfer date.
The project is aimed at developing an inter-state transmission system to evacuate renewable energy from Rajasthan’s Renewable Energy Zone (REZ) Phase-IV. The Barmer complex is planned to support the evacuation of up to 6 GW of solar power, requiring significant high-capacity transmission infrastructure to move electricity from Rajasthan to other parts of the country.
The planned system includes 6,000 MW, ±800 kV High Voltage Direct Current (HVDC) terminals at Barmer-II in Rajasthan and South Kalamb in Maharashtra. It will also include a ±800 kV HVDC bipole transmission line covering approximately 1,000 km across Rajasthan, Gujarat and Maharashtra.
In addition to the HVDC infrastructure, the project involves the construction of 400 kV transmission lines in Rajasthan along with associated bays. Two Synchronous Condenser (SynCon) units are also planned at the Barmer-II power station to support grid stability and system performance.
Barmer HVDC Power Transmission Limited was incorporated on September 30, 2025, in accordance with the Ministry of Power’s guidelines for competitive bidding in transmission projects. The company had not commenced commercial operations before the acquisition and therefore had no turnover during the preceding three financial years.
POWERGRID stated that the transaction does not constitute a related-party transaction, as neither the company nor its promoters had any prior interest in Barmer HVDC Power Transmission Limited.
Following the acquisition, the project company will undertake the required regulatory processes with the Central Electricity Regulatory Commission (CERC). These include obtaining the transmission licence and securing the adoption of transmission charges.
The acquisition adds another major renewable-energy transmission project to POWERGRID’s portfolio and supports the development of infrastructure required to evacuate electricity from Rajasthan’s expanding renewable energy zones.
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