Power Grid Corp emergs as successful bidder for two inter-state transmission projects

Power Grid Corporation of India has announced that it has been declared the successful bidder under tariff-based competitive bidding for two projects to establish inter-state transmission system on a build, own, operate, and transfer (BOOT) basis.

The first project, titled Augmentation of Transformation Capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 Scheme), involves augmentation works at under-construction substations in the state of Gujarat.

The second project, titled Augmentation of Transformation Capacity by 3x500 MVA, 400/220kV ICTs (6th - 8th) and 1x1500 MVA, 765/400kV ICT (4th) at Bidar PS, involves augmentation works at an under-construction substation in the state of Karnataka.

The company also confirmed that it received the Letter of Intent (LoI) for the respective projects on 6 January 2025.

The Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under the Ministry of Power, GoI. As of 30 September 2024, the Government of India owned a 51.34% stake in the company.

The company reported a 1.85% rise in consolidated net profit to Rs 3,793.02 crore in Q2 FY25 as against Rs 3,723.92 crore posted in Q1 FY25. Revenue from operations added 2.46% to Rs 11,277.76 crore in Q2 FY25 as against Rs 11,006.18 crore posted in Q1 FY25.

The scrip rose 0.39% to Rs 307.25 on the BSE.

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