POWERGRID acquires Sikar-II Aligarh Transmission
POWERGRID on Tuesday acquired Sikar-II Aligarh Transmission Limited (SATL), the Project SPV to establish Transmission System Strengthening Scheme for Evacuation of Power from Solar Energy Zones in Rajasthan
Power Grid Corporation of India Limited (POWERGRID) on Tuesday has
acquired Sikar-II Aligarh Transmission Limited (SATL), 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
Part-D, on build, own, operate and maintain (BOOM) basis from the Bid
Process Coordinator – PFC Consulting Limited.
The acquisition
came after POWERGRID was selected as the successful bidder under Tariff
based competitive bidding. SATL is engaged in the business as that of
Power Grid i.e. transmission of power.
The entity was acquired
for aggregate value of about Rs21.56cr, including 10,000 equity shares
at par at Rs10 each along with assets and liabilities of the company as
on June 8, 2021.
The acquisition came after POWERGRID was
selected as the successful bidder under Tariff based competitive
bidding. SATL is engaged in the business as that of Power Grid i.e.
transmission of power.
The Transmission system comprises
establishment of a 765kV D/C Transmission line, and substation extension
works in Rajasthan and Uttar Pradesh. The transmission system is an
Inter State Transmission System Project and is to be completed in 18
months.
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