Power Grid acquires project-specific SPV for power evacuation in Rajasthan

Power Grid on Wednesday said it has acquired a project-specific special purpose vehicle for evacuation of power from Bhadla-III power station in Rajasthan.

In a BSE filing, Power Grid said it emerged as the successful bidder for the said project after competing with other private sector players in a tariff-based competitive bidding (TBCB) process.

"Power Grid has acquired Bhadla-III Power Transmission for establishing the transmission system associated with additional transmission system for evacuation of power from Bhadla-III PS as Part of Rajasthan REZ Phase-III Scheme (20 GW)," it said.

The Project is an Inter State Transmission System Project and is to be commissioned in 18 months from the date of transfer of the SPV.