Power Grid Corporation acquires RSTL

Power Grid Corporation of India informed the bourses today that it has acquired Rampur Sambhal Transco (RSTL), the Project SPV to establish transmission system for ‘Construction of 765/ 400/ 220 kV GIS substation, Rampur and 400/ 220/ 132 kV GIS substation, Sambhal with associated transmission lines, on build, own, operate and maintain (BOOM) basis from REC Transmission Projects Company (the Bid Process Coordinator). This is pursuant to its selection as the successful bidder under Tariff-based competitive bidding.

The transmission system comprises 400kV transmission line apart from establishing a new 765/400/220 kV substation at Rampur and, a new 400/220/132 kV Substation at Sambhal (both in Uttar Pradesh). The transmission system is an intra-state transmission system project and is to be progressively constructed by August, 2021.

In today’s trading session, the stock of Power Grid was trading flat, but post-announcement of this acquisition, the stock went up by nearly 1.7 per cent to intra-day high of Rs 187.55 apiece. Later, the stock cooled down and settled for the day at Rs. 186.35.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurugram, India.