Power Grid Corp declared successful bidder for inter-state transmission system project in Gujarat

Power Grid Corporation of India announced that it has been declared as the successful bidder under tariff based competitive bidding (TBCB) for establishing an inter-state transmission system in the state of Gujarat.

The project involves "establishment of Khavda Pooling Station-3 (KPS3) in Khavda RE Park on build, own operate and transfer (BOOT) basis.

The letter of intent (LoI) has been received by Power Grid Corporation of India on 27 February 2023.

The scope of the project comprises of establishment of a new 765/400kV GIS Substation, 765kV D/C Transmission Line and associated works in the state of Gujarat.

Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. As of 31 December 2022, the Government of India owned a 51.34% stake in the company.

The company's consolidated net profit rose 10.7% to Rs 3,645.34 crore on 7.8% increase in revenue from operations to Rs 11,261.78 crore in Q3 FY23 over Q3 FY22.

The scrip shed 0.13% to currently trade at Rs 221.95 on the BSE.

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