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The acquisition was completed under the tariff-based competitive bidding (TBCB) process through a bid process coordinator. Shares of Power Grid Corporation of India Ltd ended at ₹289.75, down by ₹10.40, or 3.46%, on the BSE today, May 29.
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State-owned Power Grid Corporation of India Ltd (Power Grid) on Friday, May 29, said it has acquired Tumkur II RE Transmission Ltd (TRETL) on May 29, 2026, after emerging as the successful bidder under the tariff-based competitive bidding (TBCB) process.
The acquisition was completed through the bid process coordinator, PFC Consulting Ltd (PFCCL), under the build, own, operate and transfer (BOOT) model. Tumkur II RE Transmission Ltd has been established for implementing transmission system strengthening at Tumkur-II for the integration of additional RE potential (2.7 GW) in Karnataka.
The project involves a 400 kV D/c transmission line in Karnataka along with augmentation works, including ICTs and line bays at Tumkur-II pooling station.
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Power Grid Corporation of India stated that Tumkur II RE Transmission was incorporated on September 24, 2025, by the Bid Process Coordinator as per the Ministry of Power guidelines for competitive transmission development and tariff-based bidding framework.
The acquisition value is about ₹15.46 crore, which includes 10,000 equity shares acquired at par value of ₹10 each, along with the assets and liabilities of TRETL as on the acquisition date of May 29, 2026. The price is subject to adjustment based on audited accounts as of the acquisition date.
The company confirmed that the transaction does not fall under related party transactions, as there was no prior interest in the entity.
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Tumkur II will be engaged in the transmission of power and is yet to commence commercial operations, with no turnover recorded in the last three years. The entity will operate in India.
Approvals for the grant of transmission licence and adoption of transmission charges will be obtained from the Central Electricity Regulatory Commission by TRETL after acquisition.
Shares of Power Grid Corporation of India Ltd ended at ₹289.75, down by ₹10.40, or 3.46%, on the BSE today, May 29.
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(Edited by : Shoma Bhattacharjee)
First Published:
May 29, 2026 7:32 PM
IST
