Power Grid Acquires SPV for Bhadla-III Project

Power Grid Corporation has acquired a special purpose vehicle for facilitating power evacuation from the Bhadla-III power station in Rajasthan. The acquisition followed a successful tariff-based competitive bidding process. The interstate transmission system project aims for completion within 18 months.

Power Grid Corporation announced on Wednesday its acquisition of a special purpose vehicle (SPV) to manage power evacuation from the Bhadla-III power station in Rajasthan. The company secured the project after outbidding private sector competitors through a tariff-based competitive bidding (TBCB) process.

The SPV, named Bhadla-III Power Transmission, is part of the Rajasthan REZ Phase-III Scheme, which targets a 20 GW capacity. This interstate transmission system project is expected to be operational within 18 months from the transfer date.

This strategic acquisition underscores Power Grid Corporation's commitment to enhancing India's renewable energy infrastructure and meeting growing energy demands efficiently.

(With inputs from agencies.)