By Enersider Desk | New Delhi | 2 July 2026
Power Grid Corporation of India Ltd. (POWERGRID) has acquired Kakinada I Transmission Limited (KITL), the special purpose vehicle (SPV) for developing the transmission system for green hydrogen and green ammonia projects in Andhra Pradesh.
According to the company, the project will be developed on a Build, Own, Operate and Transfer (BOOT) basis. POWERGRID acquired the SPV from PFC Consulting Ltd. which acted as the Bid Process Coordinator for the project.
Image Credit: POWERGRID
The transmission project includes building of a new 765/400kV GIS substation with a STATCOM and 765kV transmission line works in Andhra Pradesh.
The company also develops transmission systems for central generating stations, independent power producers, ultra mega power projects and renewable energy sectors. The company is also commissioning massive solar and clean energy schemes across Andhra Pradesh
The company said, “the acquisition is not a related party transaction and that KITL operates in the same line of business as POWERGRID, namely power transmission. KITL was incorporated on 20 February 2025 by the Bid Process Coordinator under the Ministry of Power’s guidelines for the competitive development of transmission projects”.
Recently, POWERGRID acquired a 100 per cent stake in KITL for about Rs. 20.50 crore. The amount includes 10,000 equity shares issued at face value, along with the assets and liabilities of KITL as on the acquisition date.
The company has attained required approvals for the transfer of KITL and will seek approval from the Central Electricity Regulatory Commission for the grant of a transmission licence and the adoption of transmission charges, according to an official release.
The acquisition of KITL and POWERGRID is set to develop the transmission infrastructure required for the proposed green hydrogen and green ammonia projects in Kakinada. The project is expected to support the expansion of renewable energy infrastructure in Andhra Pradesh.
KITL is yet to begin commercial operations and has therefore not recorded any turnover during the last three years. The company will operate in India and will be engaged in the business of power transmission.
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