HomeBusiness ›POWERGRID Acquires Jam Khambhaliya Transmission at INR 6.77 Crore

POWERGRID Acquires Jam Khambhaliya Transmission at INR 6.77 Crore

Power Grid Corporation of India Ltd. has acquired Jam Khambhaliya Transmission Ltd. (JKTL), the SPV for augmenting transformation capacity at Jam Khambhaliya PS (GIS) in Gujarat, on a build, own, operate, and transfer (BOOT) basis, for INR 6.77 crore.

October 16, 2024. By Mrinmoy Dey

Power Grid Corporation of India Ltd. announced that it has acquired Jam Khambhaliya Transmission Ltd. (JKTL), the Project SPV to establish augmentation of transformation capacity at Jam Khambhaliya PS (GIS), on build, own, operate and transfer (BOOT) basis from the bid process coordinator – PFC Consulting Ltd.

The project comprises of augmentation of transformation capacity and associated bays extension works at existing substation in the state of Gujarat.

“The entity was acquired for an aggregate value of about INR 6.77 crore including 10,000 equity shares at par at INR 10 each along with assets and liabilities of the company as on the acquisition date i.e. October 15, 2024,” informed the company in a regulatory filing.

JKTL was incorporated on June 29, 2024 by the bid process coordinator as per the ‘Guidelines Encouraging Competition in Development of Transmission Projects’ and ‘Tariff based Competitive-bidding Guidelines for Transmission Service’ notified by Ministry of Power (MoP).

Approvals for grant of transmission license and adoption of transmission charges are to be obtained from Central Electricity Regulatory Commission by JKTL after the acquisition by POWERGRID.
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