Power Grid acquires NTL under TBCB route
India, New Delhi: Power Grid Corporation of India emerged as the successful bidder to acquire Neemuch Transmission Ltd. (NTL).
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India, New Delhi: Power Grid Corporation of India emerged as the successful bidder to acquire Neemuch Transmission Ltd. (NTL).
The company acquired NTL to establish a transmission system for evacuation of power from Neemuch SEZ, on build, own, operate and transfer (BOOT) basis from the bid process coordinator, REC Power Development and Consultancy.
The transmission system comprises establishment of two 400 kV DIC transmission lines passing through the states of Rajasthan and Madhya Pradesh, a new 400 or 220 kV pooling substation at Neemuch (Madhya Pradesh) and 400 kV bay extension works.
The transmission system is an interstate transmission system project and is expected to be completed in 18 months.
NTL was incorporated by bid process coordinator and is yet to start commercial operation, as such no turnover has been recorded since its incorporation. The entity will be operating in India and is engaged in the business of transmission of power, same as that of the company.
Power Grid added that the approval for grant of transmission license and adoption of transmission charges are to be obtained from Central Electricity Regulatory Commission by NTL after the acquisition by the company.
Power Grid Corporation of India has been established by the Government of India as the central transmission utility of India. As of 30 June 2022, the Government of India owns a 51.34 % stake in the company.
Source: Business Standard
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