Power Grid Corporation of India has acquired Krishnagiri Renewable Energy Zone (REZ) Transmission, a project special purpose vehicle, on three August 2026. The acquisition followed its selection as the successful bidder under tariff based competitive bidding. The asset was transferred by the Bid Process Coordinator, PFC Consulting (PFCCL), on a build, own, operate and transfer basis.

The transmission project is intended to establish an inter-state transmission system for integration of Krishnagiri REZ Phase One. Power Grid will assume responsibility for development and operation of the network that will connect generation in the Renewable Energy Zone to the wider grid. The move is part of planned efforts to enable evacuation of renewable energy from designated zones.

Under the build, own, operate and transfer model Power Grid will develop the transmission infrastructure, manage its operation and maintenance and later transfer the asset as stipulated in project terms. The model has been used for similar projects to attract private participation while ensuring long term asset stewardship by the developer. The arrangement clarifies ownership and operational responsibilities during the project lifecycle.

The acquisition reinforces the company's role in expanding inter-state transmission capacity and integrating new renewable resources into the national grid. Officials framed the transaction as a step to streamline project implementation following competitive bidding and regulatory approvals. The company indicated that the project will proceed according to the timelines established under the bidding process.

The transfer from PFCCL completes the handover of the project SPV to the selected developer and allows Power Grid to commence project activities. The company noted the acquisition was executed pursuant to the bid process and stressed adherence to contractual obligations. Further operational details will be shared in subsequent corporate disclosures.