POWERGRID Acquires WR ER Part A Transmission for ₹18.62 Crore

Key Transaction Details

Power Grid Corporation of India Limited (POWERGRID) acquired WR ER Part A Power Transmission Limited on 30.06.2026. The acquisition was made pursuant to POWERGRID being selected as the successful bidder under a Tariff Based Competitive Bidding (TBCB) process. The Bid Process Coordinator for the transaction was REC Power Development and Consultancy Limited (RECPDCL).

Project Description

The acquired entity, WR ER Part A Power Transmission Limited, is the Project SPV established to build the "WR-ER Inter-Regional Network Expansion Scheme Part-A" inter-state transmission system. The project is on a build, own, operate, and transfer (BOOT) basis.

The project comprises:

• Establishment of 2 new 765/400kV substations in Jharkhand and Chhattisgarh.
• Extension of existing substations in Chhattisgarh and West Bengal.
• Construction of 765kV & 400kV transmission lines traversing through Jharkhand, Chhattisgarh, and Odisha.

Transaction Specifics

• Consideration: The acquisition was for a cash consideration.
• Cost of Acquisition: The aggregate acquisition value was approximately ₹18.62 Crore. This included 50,000 equity shares acquired at par value of ₹10 each, along with all assets and liabilities of WR ER Part A Power Transmission Limited as of the acquisition date (30.06.2026). The final acquisition price is subject to adjustment based on the audited accounts of the company as of the acquisition date.
• Shareholding Acquired: 100% of the shareholding and control was acquired.

Target Entity Background

• Name: WR ER Part A Power Transmission Limited
• Business: Engaged in the business of power transmission, which is the same main line of business as POWERGRID.
• Date of Incorporation: 06.11.2025 (incorporated by the Bid Process Coordinator).
• Turnover: The company is yet to start commercial operations. Consequently, it has recorded no turnover in the last 3 years.
• Geography: The company will operate exclusively in India.

Regulatory and Approval Status

• The acquisition is not a related party transaction. POWERGRID had no prior interest in the entity, and no promoter/promoter group/group companies have any interest in the acquired entity.
• Requisite approvals for the transfer of the SPV were obtained by the Bid Process Coordinator (RECPDCL) from the Ministry of Power (MoP).
• Post-acquisition, WR ER Part A Power Transmission Limited is required to obtain approvals for the Grant of Transmission License and Adoption of Transmission Charges from the Central Electricity Regulatory Commission (CERC).

Timeline

The acquisition was completed on 30.06.2026, as per the timelines furnished by the Bid Process Coordinator.

Financial and Operational Impact

The disclosure confirms the acquisition is within POWERGRID's main business line. The financial impact is quantified as an outflow of approximately ₹18.62 Crore for 100% ownership, subject to final adjustment based on audited accounts.