Power Grid acquires Davanagere project SPV for transmission strengthening
Author: PPD Team Date: September 25, 2025
Power Grid Corporation of India Limited (POWERGRID) has completed the acquisition of Davanagere Power Transmission Limited (DPTL).
POWERGRID was declared the successful bidder for the “Transmission system strengthening at Davanagere for integration of renewable energy generation” project under the TBCB route. The company received the Letter of Intent on 27 August 2025.
The acquisition of DPTL was finalised on 24 September 2025, with REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, serving as the bid process coordinator.
The transmission project, to be executed on a build, own, operate, and transfer basis, involves several components. At the Davanagere Power Station, the scheme provides for the augmentation of transformation capacity with four 400/220 kV, 500 MVA ICTs (5th to 8th) along with associated bays, scheduled for completion within 24 months. At the Davanagere/Chitradurga Power Station, the works include the installation of one 765/400 kV, 1500 MVA ICT with associated bays, bus sectionalizers, bus couplers, and transfer bus couplers. In addition, two 220 kV line bays will be established at Davanagere/Chitradurga for connecting renewable energy project lines.
REC Limited separately confirmed that its subsidiary RECPDCL transferred its entire shareholding in DPTL to POWERGRID on 24 September 2025.