Power Grid acquires SPV to build transmission project

State-run Power Grid Corporation of India on Tuesday said it has acquired 100 per cent equity in a special purpose vehicle (SPV) to build an inter-state transmission project for eastern and northeastern regions. The SPV was acquired for an aggregate value of about Rs 7.04 crore, including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of the company as on the acquisition date (October 10).