POWERGRID acquires Barmer HVDC project SPV for Rajasthan renewable evacuation
As filed · Power Grid Corporation of India Limited has informed the Exchange about Acquisition of Barmer HVDC Power Transmission Limited by POWERGRID under TBCB route.
What happened
FactPOWERGRID acquired 100% of Barmer HVDC Power Transmission Limited on 23.09.2026 after winning the project through tariff-based competitive bidding. The BOOT project includes 6,000 MW, ±800 kV HVDC terminals at Barmer-II and South Kalamb, an approximately 1,000 km HVDC bipole line, associated 400 kV lines and two SynCon units.
Why it matters
CapitSignal interpretationAn acquisition spends cash or issues shares today for earnings that arrive later, so the price paid and the funding route decide whether holders gain.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Capex
RevisedSo, we have ₹1,95,000 worth projects which are to be commissioned in next 3-4 years.
Last year, sorry, last meet, we have given ₹28,000 crores for FY26. We are increasing it to ₹32,000 crores as I told and for FY27, CapEx will be ₹37,000 crores. In FY28, it will be ₹45,000 crores.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Consideration and how it is funded
- Revenue and profit of the target
- Expected completion date
- our capitalization for this financial year is going to be more than Rs 25,000 crores. (management committed by FY26)
- we have revised our Capex guideline to Rs. 32,000 crore. (management committed by FY26)
Evidence
- Power Grid Corporation of India Limited has informed the Exchange about Acquisition of Barmer HVDC Power Transmission Limited by POWERGRID under TBCB route.(opens the original filing in a new tab)
- Earlier statement · Q3 FY25
- Latest statement · Q3 FY25
- Earlier statement · Q3 FY25
How CapitSignal classified this
- Reasoning:
- The acquisition advances a large inter-state transmission project intended to evacuate renewable power from the Rajasthan REZ. The project remains subject to Central Electricity Regulatory Commission approvals for the transmission licence and adoption of transmission charges.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%