Power Grid Corporation of India Limited has successfully formed a joint venture with Africa50 for the Kenya Transmission PPP Project. The Special Purpose Vehicle, Mwanga Transmission Company Limited, was incorporated in Kenya on 21st April 2026 with Power Grid holding 40 percent equity and Africa50 holding 60 percent equity. The project will implement the Kenya Independent Power Transmission Project under a Public Private Partnership framework through an agreement with Kenya Electricity Transmission Company Limited (KETRACO).

Power Grid Corporation Forms Joint Venture with Africa50 for Kenya Transmission Project

Power Grid Corporation of India Limited has announced the successful incorporation of a joint venture company with Africa50 for implementing the Kenya Transmission PPP Project. The development marks a significant milestone in the company's international expansion strategy and strengthens India's presence in Africa's power transmission sector.

Joint Venture Structure

The Special Purpose Vehicle has been established under the name Mwanga Transmission Company Limited as a Private Limited Company under Kenya's Companies Act, 2015. The Certificate of Incorporation was issued by the Registrar of Companies, Kenya on 21st April 2026.

Parameter: Details Company Name: Mwanga Transmission Company Limited Incorporation Date: 21st April 2026 Legal Framework: Companies Act, 2015 of Kenya Power Grid Equity: 40 percent Africa50 Equity: 60 percent

Project Framework

The SPV has been established pursuant to a Project Agreement executed with Kenya Electricity Transmission Company Limited (KETRACO). The project will be implemented under the Public Private Partnership framework, specifically focusing on the Kenya Independent Power Transmission Project.

The partnership leverages Power Grid Corporation's extensive experience in transmission infrastructure development with Africa50's regional expertise and investment capabilities. This collaboration represents a strategic alliance between Indian technical expertise and African development finance.

Regulatory Compliance

The announcement was made through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Satyaprakash Dash, Company Secretary and Compliance Officer, ensuring full transparency with stakeholders and regulatory authorities.

This joint venture establishment demonstrates Power Grid Corporation's commitment to expanding its international footprint while contributing to Africa's power transmission infrastructure development through strategic partnerships.

Power Grid Corporation of India has announced the completion of tenure for two Independent Directors on its Board of Directors. The company informed stock exchanges on 16th April, 2026 about this corporate governance development through a regulatory filing.

Board Changes Details

The tenure of two Non-Official Directors (Independent Directors) concluded on 15th April, 2026. Both directors ceased their positions following the completion of their respective terms as mandated by Ministry of Power orders dated 16th April, 2025.

Director Details: Information Director 1: Shri Shiv Tapasya Paswan DIN: 09414240 Director 2: Shri Rohit Vaswani DIN: 00658059 Tenure End Date: 15th April, 2026 Original Appointment Order: Ministry of Power dated 16th April, 2025

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This regulation mandates listed companies to inform stock exchanges about material events and corporate developments that could impact investor decisions.

The communication was formally addressed to both National Stock Exchange of India Limited at Exchange Plaza, Bandra-Kurla Complex, and BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai. Company Secretary and Compliance Officer Satyaprakash Dash digitally signed the regulatory filing on behalf of the company.

Corporate Governance Impact

With the completion of tenure for both Independent Directors, POWERGRID will need to ensure continued compliance with board composition requirements. Independent Directors play a crucial role in corporate governance by providing objective oversight and strategic guidance to company management.

The timing of the tenure completion aligns with the original Ministry of Power orders, indicating a structured transition process for board positions in this public sector enterprise. The company has fulfilled its disclosure obligations by promptly informing both major stock exchanges where POWERGRID shares are traded.

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