Power Grid Corporation of India Limited has acquired Tumkur II RE Transmission Ltd for an aggregate value of ₹15.46 crore, including 10,000 equity shares at par value of ₹10 each, under the tariff-based competitive bidding (TBCB) route. According to reports from CNBC TV18, the company has taken 100% shareholding in the special purpose vehicle formed for a transmission project in Karnataka. The acquisition was completed on May 29, 2026, after Power Grid emerged as the successful bidder under the build, own, operate and transfer (BOOT) model through the bid process coordinator, PFC Consulting Ltd (PFCCL).
As reported by CNBC TV18, Tumkur II RE Transmission Ltd was incorporated on September 24, 2025, by the Bid Process Coordinator as per Ministry of Power guidelines for competitive transmission development and tariff-based bidding framework. The project involves a 400 kV D/c transmission line in Karnataka along with augmentation works, including ICTs and line bays at Tumkur-II pooling station. The transmission system is designed to strengthen infrastructure at Tumkur-II for the integration of additional renewable energy potential of 1.5 GW in Karnataka. The project aims to improve transmission capacity for renewable energy integration in the Tumkur region.
According to CNBC TV18, the acquisition value of ₹15.46 crore includes the equity shares at par value plus assets and liabilities of TRETL as on the acquisition date of May 29, 2026. The price is subject to adjustment based on audited accounts as of the acquisition date. The company confirmed that the transaction does not fall under related party transactions, as there was no prior interest in the entity. Power Grid shares ended at ₹289.75, down by ₹10.40, or 3.46%, on the BSE on May 29, 2026. Approvals for transmission licence and adoption of transmission charges will be obtained from the Central Electricity Regulatory Commission by TRETL after acquisition.
The Tumkur II acquisition is part of a larger transmission infrastructure development initiative by PFC, which has transferred two special purpose vehicles to strengthen renewable energy integration. As reported by PFC, the second SPV, Kurnool IV REZ Power Transmission Limited, was transferred to Resonia Limited for the "Transmission System for Kurnool-IV REZ – Phase-II (3 GW)" project, supporting large-scale renewable energy evacuation from the Kurnool Renewable Energy Zone. Officials emphasized that the structured bidding process ensures transparency and efficiency in infrastructure asset monetization, with these projects expected to enhance grid reliability and support India's clean energy transition.
