Global Infrastructure SherpaPGCIL acquires NES Pune East New Transmission Limited to strengthen Maharashtra's transmission network
Power Grid Corporation of India Limited (PGCIL) acquired NES Pune East New Transmission Limited for approximately Rs. 8.05 crore on March 12, 2026. This acquisition, following a successful bid in the Tariff Based Competitive Bidding process, aims to enhance transmission infrastructure in Maharashtra. The deal is crucial for meeting the growing electricity demand in the region.
Counterparts (2)
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- PGCIL operates over 176,000 ckm of transmission lines and 278 substations.
- Acquisition value: approximately Rs. 8.05 crore.
- Deal announced on March 12, 2026.
- Secured via Tariff Based Competitive Bidding.
Source Intelligence
The acquisition follows the company’s selection as the successful bidder under the Tariff Based Competitive Bidding (TBCB) process. The project will be implemented on a Build, Own, Operate, and Transfer (BOOT) basis. The transaction includes 10,000 equity shares with a face value of Rs. 10 each. The final acquisition price may be subject to adjustments based on the audited financial statements as of the acquisition date. The transaction was completed through cash consideration and does not involve any related party transactions. NPENTL was incorporated on March 29, 2025. The company will now proceed with obtaining the required approvals, including a transmission license and the adoption of transmission charges from the Maharashtra Electricity Regulatory Commission.
"Power Grid Corporation of India Limited has announced the acquisition of NES Pune East New Transmission Limited on March 12, 2026."
"The acquisition was completed from PFC Consulting Limited, which served as the bid process coordinator for the project."
"NPENTL has been created as a Special Purpose Vehicle to implement an important transmission network expansion project in the state of Maharashtra."
Timeline
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