POWERGRID Expands Green Energy Network, Acquires ₹20.5 Crore Kakinada Transmission SPV For Andhra Hydrogen Projects

Mumbai: Power Grid Corporation of India Ltd (POWERGRID) has taken a major step to support India’s clean energy transition. The company has acquired Kakinada I Transmission Limited (KITL) under the tariff-based competitive bidding (TBCB) route.

The acquisition will help POWERGRID build critical transmission infrastructure for upcoming green hydrogen and green ammonia projects in the Kakinada region of Andhra Pradesh.

Rs 20.5 Crore Acquisition

POWERGRID acquired the special purpose vehicle (SPV) for an aggregate value of about Rs 20.5 crore.

The acquisition includes 10,000 equity shares at a face value of Rs 10 each, along with the assets and liabilities of KITL as of June 29, 2026.

The company now owns 100% stake in Kakinada I Transmission Limited.

The acquisition price may be adjusted later based on audited financial statements.

Major Transmission Project

The project includes setting up a new 765/400kV GIS substation with STATCOM support.

It also includes construction of 765kV transmission lines in Andhra Pradesh.

This infrastructure will ensure reliable power evacuation and grid stability for future green energy projects in the region.

Industry experts believe such transmission upgrades are essential for scaling green hydrogen production.

Boost For Clean Energy

Kakinada I Transmission Limited was incorporated in February 2025 and has not yet started commercial operations.

After the acquisition, regulatory approvals related to transmission licence and tariff adoption will be obtained from the Central Electricity Regulatory Commission.

The move strengthens POWERGRID’s position in India’s power transmission sector while supporting the government’s push towards renewable energy and green industrial growth.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.