Power Grid acquires Kakinada I Transmission for ₹20.50 Cr

Power Grid Corporation of India acquired Kakinada I Transmission Limited (KITL) for an aggregate value of ₹20.50 crore on June 29, 2026, to establish a transmission system for proposed green hydrogen and green ammonia projects in the Kakinada area. The acquisition, made through a Tariff Based Competitive Bidding process, involves 100% shareholding and includes 10,000 equity shares at par along with the assets and liabilities of KITL. The project will be executed on a build, own, operate, and transfer (BOOT) basis in Andhra Pradesh, comprising a new 765/400kV GIS Sub-station, STATCOM, and 765kV transmission line works.

The acquisition does not constitute a related party transaction, as Power Grid held no prior interest in KITL. The target entity was incorporated on February 20, 2025, by the Bid Process Coordinator, PFC Consulting Limited, in accordance with guidelines from the Ministry of Power. KITL is yet to commence commercial operations and has recorded no turnover in the past three years. Post-acquisition, KITL will seek approvals from the Central Electricity Regulatory Commission for the grant of transmission license and adoption of transmission charges.

Acquisition Details

The transaction was completed as per the timelines provided by the Bid Process Coordinator. The consideration of ₹20.50 crore is subject to adjustment based on the audited accounts of KITL as on the acquisition date. The acquisition aligns with Power Grid's core business of power transmission.

Parameter	Details
Target Entity	Kakinada I Transmission Limited (KITL)
Acquisition Date	29.06.2026
Cost of Acquisition	₹20.50 crore
Shareholding Acquired	100%
Equity Shares	10,000 shares at ₹10 each
Project Type	Build, Own, Operate, Transfer (BOOT)
Location	Andhra Pradesh

Regulatory Approvals

Requisite approvals for the transfer of KITL were obtained by the Bid Process Coordinator. The entity was incorporated under the “Guidelines Encouraging Competition in Development of Transmission Projects” and “Tariff Based Competitive-bidding Guidelines for Transmission Service” notified by the Ministry of Power. KITL will operate exclusively in India within the power transmission sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.05%	+0.26%	+0.47%	+10.57%	-4.15%	+122.48%

Power Grid Corporation of India Ltd has commissioned the Transmission scheme for Solar Energy Zone in Ananthpuram (2500 MW) and Kurnool (1000 MW), Andhra Pradesh, effective June 24, 2026. The project enhances transmission capacity for solar energy zones in the region. The company received the Notification for Commercial Operation (DOCO) dated June 25, 2026, via email on June 26, 2026.

The project was originally entrusted to POWERGRID Ananthpuram Kurnool Transmission Limited, a wholly owned subsidiary of Power Grid Corporation of India Ltd. This entity amalgamated with POWERGRID Khawda II-C Transmission Limited effective March 1, 2026, as per an order from the Ministry of Corporate Affairs (MCA) dated January 27, 2026.

Project Details

The commissioned scheme facilitates the evacuation of power from significant solar energy zones. The following table outlines the key capacities associated with the project:

Location	Capacity (MW)
Ananthpuram (Ananthapur)	2500 MW
Kurnool	1000 MW
Total	3500 MW

Regulatory and Corporate Structure

The commissioning was disclosed to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The amalgamation of the project's original subsidiary with POWERGRID Khawda II-C Transmission Limited preceded the final commissioning, consolidating the asset under the merged entity prior to the commercial operation date.