IndiGrid completes acquisition of Kallam Transmission Ltd
India: India Grid Trust has announced completing the acquisition of “Kallam Transmission Ltd” from REC Power Development & Consultancy Ltd.
Image source: T&D India
India: India Grid Trust has announced completing the acquisition of “Kallam Transmission Ltd” from REC Power Development & Consultancy Ltd.
A consortium of IndiGrid 1 Ltd and IndiGrid 2 Ltd, both wholly-owned subsidiaries of IndiGrid, received a letter of intent earlier this month to establish a transmission system for evacuation of power from renewable energy projects in Osmanabad area in Maharashtra.
The letter of intent was awarded by REC Power Development & Consultancy Ltd (a wholly-owned subsidiary of REC Ltd), the bid process coordinator for the project.
The IndiGrid consortium won the transmission project, to be developed by Kallam Transmission Ltd, under the tariff-based competitive bidding mechanism.
“The consortium has acquired 100 % paid-up equity share capital and management control of Kallam,” IndiGrid disclosed.
Kallam Transmission Ltd was incorporated on 28 May 2020, as a wholly-owned subsidiary of REC Power Development & Consultancy Ltd, for the development of a new 400/220 kV substation at Kallam and 400 kV multi-circuit transmission line works in the state of Maharashtra.
Source: T&D India