INDIA —Power Grid Corporation of India Limited has finalized the acquisition of Jam Khambhaliya REZ Transmission Limited for an aggregate consideration of approximately 192.2 million rupees. The transaction encompasses acquiring 10,000 equity shares at par value along with the corresponding assets and liabilities of the project special purpose vehicle. The target entity was originally incorporated on April 29, 2026, by PFC Consulting Limited under the tariff-based competitive bidding framework to develop necessary power evacuation networks.
The strategic development involves the construction of a new gas-insulated switchgear substation in Kalyanpur, alongside information and communication technology augmentation, bay extension works across existing infrastructure, and the installation of 765 kilovolt transmission lines across Gujarat. These grid enhancements are specifically designed to evacuate and integrate 5,500 megawatts from renewable energy projects in the Jam Khambhaliya renewable energy zone phase two, alongside 1,000 megawatts from Jamnagar phase one.
This transaction addresses critical grid capacity constraints associated with large-scale renewable energy integration in high-potential generation zones. By expanding high-voltage interstate transmission corridors, the initiative ensures uninterrupted power evacuation and minimizes curtailment risks for clean energy developers operating within the region. The build, own, operate, and transfer model provides long-term operational stability while inviting private and public capital efficiency into large utility-scale grid expansions.
The development directly impacts power transmission utilities, renewable energy developers, equipment manufacturers specializing in gas-insulated switchgear and high-voltage alternating current systems, and regional industrial stakeholders. Furthermore, regulatory bodies such as the Central Electricity Regulatory Commission will oversee the subsequent granting of transmission licenses and the formal adoption of transmission tariffs following the ownership transition.
