Jan 15: State-run electric utilities company Power Grid Corporation of India Ltd on Monday informed that it has acquired ERSS XXI Transmission Ltd, a project specific SPV.
“…the Power Grid Corporation of India Ltd, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 12th January, 2018 acquired ERSS XXI Transmission Ltd, the Project SPV to establish Eastern Region Strengthening Scheme –XXI (ERSS-XXI) on build, own operate and maintain (BOOM) basis, from REC Transmission Projects Company Ltd (the Bid Process Coordinator),” the company said in a statement.
According to the company, the transmission system includes establishment of three new 400kV substations and associated 400kV transmission lines in the state of Bihar. The transmission system is to be progressively constructed over a period of 38 months.
Power Grid shares were trading at Rs 197.25, up 0.38% from the previous closing of Rs 196.50, on BSE at 10.54 am today.