POWERGRID Acquires Neemuch Transmission
Power Grid Corporation of India (POWERGRID or PGCIL) has completed the acquisition for Neemuch Transmission Ltd. (NTL), a Special Purpose Vehicle for the development of power evacuation infrastructure from the Neemuch Special Economic Zone (SEZ). This information was conveyed by PGCIL in a stock filing dated 25th August 2022.
PGCIL will be establishing “Transmission System for Evacuation of Power from Neemuch SEZ” on a Build-Own-Operate-Transfer (BOOT) basis. The acquisition was done through Tariff Based Competitive Bidding route from REC Power Development and Consultancy Limited (RECPDCL), which was the bid coordinator for the process.
Scope of work for PGCIL includes laying about 277 Km of 400 KV Double Circuit transmission lines through Rajasthan and Madhya Pradesh. PGCIL will also establish a 440/220 KV Pooling Air Insulated Substation (AIS) at Neemuch (MP), which will be equipped with two 500 MVA transformers. The project has a completion period of 18 months.