Power Grid Corporation of India, a leading power transmission company in India, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired Fatehgarh Bhadla Transco (FBTL), the Project SPV to establish Transmission system strengthening for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under phase II - Part B, on build, own, operate and maintain (BOOM) basis from the Bid Process Coordinator - REC Power Distribution Company.
The Transmission system comprises establishment of 765kV D/C line and associated bays extension works in the State of Rajasthan. The transmission system is an Inter State Transmission System Project and is to be completed in 18 months.
Shares of the company gained Rs 10.05, or 4.44%, to settle at Rs 236.20. The total volume of shares traded was 1,661,933 at the BSE (Monday).