Power Grid Acquired SPV From REC Transmission
2018-01-12 Merger and Acquisitions Power Eastern India
Power Grid Corporation of India Limited, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 12th January, 2018 acquired ERSS XXI TRANSMISSION LIMITED, the Project SPV to establish Eastern Region Strengthening Scheme –XXI (ERSS-XXI) on build, own operate and maintain (BOOM) basis, from REC Transmission Projects Company Limited (the Bid Process Coordinator). The transmission system includes the establishment of three new 400kV Substations and associated 400kV transmission lines in the State of Bihar. The transmission system is to be progressively constructed over a period of 38 months.