POWERGRID acquires Davanagere Power Transmission for renewable energy integration

Power Grid Corporation of India Limited (POWERGRID) announced on September 24, 2025, the acquisition of Davanagere Power Transmission Limited (DPTL) under the Tariff Based Competitive Bidding (TBCB) route. DPTL was established to build, own, operate, and transfer a transmission system to integrate renewable energy generation, following POWERGRID's selection as the successful bidder. The project includes augmentation works at an under-construction substation in Davanagere, Karnataka.

POWERGRID acquired DPTL for about ₹6.53 crore, including 50,000 equity shares at ₹10/- each, along with DPTL's assets and liabilities as of the acquisition date. POWERGRID now holds 100% of DPTL's shareholding.

DPTL was incorporated on June 26, 2025, and is yet to commence commercial operations, thus recording no turnover in its initial three years. The acquisition aligns with POWERGRID's core business of power transmission.