PowerGrid acquires MPTL to boost Mahan power project in Madhya Pradesh

State-owned Power Grid Corporation of India Ltd (PowerGrid) on Wednesday, June 4, said it has acquired MEL Power Transmission Ltd (MPTL), a special purpose vehicle, for an aggregate value of ₹8.53 crore.

The acquisition, completed on June 4, 2025, was made under tariff-based competitive bidding as part of the transmission system for evacuating power from Mahan Energen’s generating station in Madhya Pradesh.

The acquisition includes 10,000 equity shares at face value along with MPTL’s assets and liabilities as on the acquisition date. The final acquisition cost is subject to adjustments based on the audited financials of MPTL.

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The transmission project involves setting up a 400 kV double circuit transmission line and associated bays at the Rewa PowerGrid substation. The project will be developed on a build, own, operate, and transfer (BOOT) basis.

MPTL, incorporated on November 19, 2024, by PFC Consulting Ltd (PFCCL) — the designated bid process coordinator — has not yet commenced operations and has recorded no turnover. The company is aligned with PowerGrid’s core transmission business and was acquired following PowerGrid’s successful bid for the project.

The acquisition is not a related party transaction, and PowerGrid held no prior interest in MPTL. Regulatory approvals for granting a transmission licence and adoption of transmission charges are to be sought from the Central Electricity Regulatory Commission following the acquisition.

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Shares of Power Grid Corporation of India Ltd ended at ₹288.60, up by ₹0.35, or 0.12%, on the BSE.