
Power Grid Corporation of India Limited (POWERGRID) has announced the acquisition of Gadag II and Koppal II Transmission Limited (GIIKIITL) as part of its successful bid under the Tariff Based Competitive Bidding (TBCB) route. The acquisition was completed on January 16, 2025, with the company acquiring 100% of the shares in GIIKIITL for a cash consideration of ₹13.24 crore, including assets and liabilities as on the acquisition date.
The acquisition involves the establishment of a power transmission system aimed at strengthening the grid at Koppal-II and Gadag-II for integrating renewable energy (RE) generation projects. This project will operate on a build, own, operate, and transfer (BOOT) basis, with the construction of a 400 kV transmission line traversing Karnataka and the augmentation of the transformation capacity of substations at Koppal-II and Gadag-II.
GIIKIITL, incorporated on October 21, 2024, under the Ministry of Power’s competitive transmission project guidelines, will be engaged in power transmission. It has not yet commenced commercial operations and is set to function exclusively in India.
POWERGRID has affirmed that this acquisition aligns with its strategic objective of supporting India’s renewable energy integration efforts. The necessary regulatory approvals, including the grant of transmission licenses and adoption of transmission charges, will be sought from the Central Electricity Regulatory Commission (CERC).
This acquisition highlights POWERGRID’s commitment to expanding its transmission network and contributing to India’s renewable energy goals. The project is expected to enhance grid reliability and accommodate the increasing share of renewable energy in the country’s power mix.