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, on June 8 acquired Sikar-II Aligarh Transmission (SATL), the Project SPV to establish Transmission System Strengthening Scheme for Evacuation of Power from Solar Energy Zones in Rajasthan (8.1 GW) under Phase-II Part-D, on build, own, operate and maintain (BOOM) basis from the Bid Process Coordinator - PFC Consulting.

The Transmission system comprises establishment of a 765kV D/C Transmission line, and substation extension works in Rajasthan and Uttar Pradesh. The transmission system is an Inter State Transmission System Project and is to be completed in 18 months.

Shares of the company declined Rs 1.9, or 0.8%, to settle  at  Rs 234.30.  The total volume of shares traded  was  418,909 at  the BSE (Tuesday).