Having emerged as successful developer under the TBCB framework, Power Grid Corporation of India Ltd (PGCIL) has formally acquired “Kakinada I Transmission Ltd,” housing an interstate transmission system (ISTS) scheme in Karnataka.
In a regulatory filing, PGCIL said that the project SPV was acquired from bid process coordinator PFC Consulting Ltd (PFCCL) on June 29, 2026. The project SPV was incorporated on February 20, 2025 as a wholly-owned subsidiary of PFCCL.
The ISTS scheme is formally termed as “Transmission system for proposed green hydrogen/green ammonia projects in Kakinada area (Phase-I)” and will take shape in Andhra Pradesh.
The project comprises establishment of a new 765/400kV GIS substation along with STATCOM and 765kV transmission line works in Andhra Pradesh.
The project has a gestation period of 24 months (translating to a scheduled completion date of around June 29, 2028) and will cost around Rs.1,618 crore as per estimates made by National Committee on Transmission (NCT).
Though not officially released, PGCIL’s winning tariff for this scheme is in the range of Rs.202 crore and Rs.205 crore, as per reliable sources. The tariff stands for transmission charges that PGCIL will annually earn during the 35-year concession period, after the project begins commercial operations.
As reported by tndindia.com on June 13, 2026, PGCIL had received the letter of intent for this scheme and was on course to formally acquiring the project SPV.
Second acquisition in FY27
For PGCIL, Kakinada I Transmission Ltd represents the second formal acquisition of an ISTS-TBCB scheme in FY27 so far (April 1, 2026 to June 29, 2026). Prior to this, the Central PSU had taken over “Tumkur II RE Transmission Ltd,” on May 29, 2026.
PGCIL is set to acquire at least two more ISTS-TBCB schemes in the coming weeks. On June 16, 2026, it received the letter of intent for “WR ER Part A Power Transmission Ltd.” Besides, as exclusively reported by tndindia.com on June 25, 2026, PGCIL has emerged L1 bidder for an ISTS-TBCB scheme housed under “Bhadla Ramgarh Power Transmission Ltd.”
It may be mentioned that PGCIL, way back on September 4, 2025, received the letter of intent with respect to “Robertsganj Power Transmission Ltd,” an interstate-TBCB scheme relating to evacuation of power from upcoming pumped storage projects in Uttar Pradesh. The formal transfer of this project SPV is pending approval from the Union power ministry, it is learnt.
Update: The winning tariff quoted by PGCIL for the Kakinada-I scheme was Rs.1799.74 million per year as available from official sources, after filing of the story.
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