New Delhi: State-run Power Grid Corporation of India Ltd (PGCIL) has taken over two special purpose vehicles (SPVs)—Fatehgarh Bhadla Transco Ltd and Sikar New Transmission Ltd—that it had won in competitive bidding conducted by REC Power Distribution Company Ltd.
PGCIL is the first state-owned company to offer an infrastructure investment trust (InvIT) as part of the government’s brownfield asset monetization strategy, and has plans to bring in another 18 projects involving an investment of ₹22,500 crore under its InvIT.
“The selection of M/s Power Grid Corporation of India Limited was carried out through tariff-based competitive bidding (TBCB) for selection of transmission developers in line with standard bidding documents and guidelines,” the Union power ministry said in a statement on Saturday.
