Power Grid Corporation of India Ltd (PGCIL) is progressing with the second phase of restructuring its wholly-owned TBCB subsidiaries.
PGCIL has filed two petitions in this regard with Central Electricity Regulatory Commission (CERC) and the same are scheduled for hearing on September 10, 2026.
The two petitions relate to merger/amalgamation of a total of 28 subsidiaries of PGCIL into two others. PGCIL has already received the no-objection certificate (NOC) from Central Transmission Utility of India Ltd (CTUIL) on May 26, 2026 for the proposed merger.
The proposal involves merger of 17 wholly-owned subsidiaries into “Powergrid Ghiror Transmission Ltd” and 11 others into “Powergrid South Olpad Transmission Ltd.” Both the companies named are also TBCB subsidiaries of PGCIL.
PGCIL has approached CERC for the transfer/assignment of transmission licences in compliance with the proposed amalgamation/merger. In effect, the transmission licences held (or applied for) by the 28 subsidiaries to be merged will be transferred to the two subsidiaries with which the merger/amalgamation will be carried out.
The 17 subsidiaries to be merged with Powergrid Ghiror Transmission Ltd are:
- Powergrid Medinipur-Jeerat Transmission Ltd
- Powergrid Mithilanchal Transmission Ltd
- Powergrid Varanasi Transmission System Ltd
- Powergrid Khetri Transmission System Ltd
- Powergrid Ajmer Phagi Transmission Ltd
- Powergrid Fatehgarh Transmission Ltd
- Powergrid Ramgarh Transmission Ltd
- Powergrid Bikaner Transmission System Ltd
- Powergrid Bhadla Transmission Ltd
- Powergrid Narela Transmission Ltd
- Powergrid Neemuch Transmission System Ltd
- Powergrid Barmer I Transmission Ltd
- Powergrid Bikaner IV Transmission Ltd
- Powergrid Siwani Transmission Ltd
- Powergrid Kudankulam Transmission Ltd
- Powergrid Fatehgarh Barmer Augmentation Transmission Ltd
- Powergrid Mahan Rewa Transmission Ltd
The following 11 subsidiaries will be merged with Powergrid South Olpad Transmission Ltd:
- Powergrid ER NER Transmission Ltd
- Powergrid Mandsaur Transmission Ltd
- Powergrid Meawar Transmission Ltd
- Powergrid Sirohi Transmission Ltd
- Powergrid Beawar-Mandsaur Transmission Ltd
- Powergrid Kurawar Transmission Ltd
- Powergrid Jam Khambhaliya Transmission Ltd
- Powergrid Chitradurga Bellary Transmission Ltd
- Powergrid Banaskantha Augmentation Transmission Ltd
- Powergrid Sirohi Khandwa Transmission Ltd
- Powergrid Kurnool-III CPETA Transmission Ltd
Second phase of restructuring
The subject proposal represents PGCIL’s second phase of restructuring its TBCB subsidiaries. In the first phase, completed on March 1, 2026, a total of 17 subsidiaries were merged into two others.
According to estimates made by tndindia.com, the number of PGCIL’s TBCB subsidiaries, post completion of the second phase of restructuring, will stand reduced to around 39, by current thinking, from 64 as of March 1, 2026. Before the restructuring exercise was initiated, PGCIL had a total of 81 TBCB subsidiaries – representing both interstate and intrastate schemes.
Rationale
As discussed in tndindia.com’s story dated June 3, 2026, the only rationale for carrying out this restructuring is to improve administrative efficiency. This exercise has no bearing whatsoever on any aspect of the under-construction/operational project housed under the particular TBCB subsidiary.
Reduction in number of TBCB subsidiaries
The only other occasion where PGCIL saw a reduction in its number of TBCB subsidiaries was in 2021 when five of them were transferred to Powergrid Infrastructure Investment Trust (PGInvIT). However, in keeping with the Central government’s policies on monetization of assets, PGCIL did not make any further sale of its TBCB subsidiaries to PGInvIT. The five TBCB project SPVs in question, all operational at the time of transfer, were among PGCIL’s best-performing interstate-TBCB projects then. Together these five schemes entail six 765kV and five 400kV lines aggregating nearly 3,700 ckm, and three substations with total transformation capacity of 6,630 MVA.
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