New Delhi, February 3, 2026:
Power Grid Corporation of India Limited (POWERGRID) has acquired SR and ER Power Transmission Limited (SRERPTL) for an aggregate consideration of about ₹19.63 crore under the Tariff-Based Competitive Bidding (TBCB) route, the company informed stock exchanges on Tuesday.
The acquisition was completed on February 3, 2026, following POWERGRID’s selection as the successful bidder for the project titled “Inter-Regional Strengthening between Southern Region (SR) Grid and Eastern Region (ER) Grid”. The project will be implemented on a Build, Own, Operate and Transfer (BOOT) basis.
SRERPTL, the project special purpose vehicle (SPV), was acquired from PFC Consulting Limited (PFCCL), the bid process coordinator. The project involves the development of 765 kV double-circuit transmission lines traversing through Odisha and Andhra Pradesh, along with associated line bays and reactor works at both ends.
POWERGRID stated that the acquisition does not fall under related party transactions and that it had no prior interest in SRERPTL. The company has acquired 100% equity control, including 10,000 equity shares at par value, along with all assets and liabilities of the SPV as on the acquisition date.
SRERPTL was incorporated on August 22, 2025, and is yet to commence commercial operations. Post-acquisition, regulatory approvals for the grant of transmission licence and adoption of transmission charges will be obtained from the Central Electricity Regulatory Commission (CERC).
The acquisition aligns with POWERGRID’s core business of power transmission and strengthens inter-regional grid connectivity, supporting reliable power transfer across regions.