Power Grid Acquires MEL Power Transmission For ₹85.3 Million

Power Grid Corp. of India Ltd. has acquired MEL Power Transmission Ltd., a wholly-owned subsidiary of PFC Consulting Ltd., for ₹85.31 million, Power Finance Corp. Ltd. said in an exchange filing.

MEL Power Transmission was set up as a special purpose vehicle to develop the transmission system for evacuation of power from Mahan Energen Ltd.'s generating system in Madhya Pradesh. The transaction was completed on Wednesday.