Power Grid Corp turns successful bidder under TBCB for inter-state transmission system

The state-run company has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System for the following 2 projects on Build, Own Operate and Transfer (BOOT) basis.

The first project - Western Region Expansion Scheme- XXVII (WRES-XXVII) - comprises of establishment of 400kV D/C transmission line passing through the state of Chhattisgarh and bays extension works at 2 existing sub-stations.

The second project - Western Region Expansion Scheme- XXVII (WRES-XXVII) - entails bays extension works including creation of 220kV voltage at 2 existing sub-stations in the state of Chhattisgarh.

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 rose 0.94% to Rs 224.20 on the BSE.

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