PGCIL acquires SPV for Mahan Energen transmission project

Power Grid Corporation of India Limited (POWERGRID) has completed the acquisition of MEL Power Transmission Limited (MPTL), a special purpose vehicle set up for the transmission system linked to Mahan Energen Limited’s power station in Madhya Pradesh. The acquisition was finalised on June 4, 2025.

MPTL was initially incorporated by PFC Consulting Limited (PFCCL) on November 20, 2024, to implement the transmission scheme through the Tariff-Based Competitive Bidding (TBCB) route. PFCCL served as the bid process coordinator.

POWERGRID emerged as the successful bidder. The project will be developed on a build, own, operate, and transfer (BOOT) basis.

The scope includes the construction of a 400 kV double-circuit transmission line and associated bays at the Rewa pooling station in Madhya Pradesh.

The acquisition cost was approximately Rs 85.3 million. This includes 10,000 equity shares at par, along with associated assets and liabilities. The final payment will be subject to audit adjustments.