Power Grid Corporation’s Major Win: Securing the 20 GW Transmission Project in Rajasthan

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Power Grid Corporation of India Wins Bid for 20 GW Transmission Project in Rajasthan

The Power Grid Corporation of India has announced its successful bid for a 20 GW Inter-State Transmission System Project in Rajasthan under ‘Tariff Based Competitive Bidding’. The project is part of the ‘transmission system for evacuation of power from REZ in Rajasthan under Phase-III Part C1’ and will be executed on a build, own, operate and transfer (BOOT) basis.

Project Details

The project for which Power Grid Corporation of India has been declared the successful bidder involves the development of a transmission system for the evacuation of power from Renewable Energy Zones (REZ) in Rajasthan. This is part of Phase-III Part C1 and will be executed on a Build, Own, Operate and Transfer (BOOT) basis.

The project includes the establishment of a new 765/400 kV substation equipped with STATCOM technology at Ramgarh. Additionally, it involves the construction of a 765kV D/C transmission line and associated bays extension works at other existing substations in Rajasthan.

The company received the Letter of Intent (LoI) for this project on 11 September 2023. This marks a significant milestone in Power Grid Corporation’s ongoing efforts to enhance India’s power transmission infrastructure.

About Power Grid Corporation of India

The Power Grid Corporation of India Limited, a central public sector undertaking, is primarily involved in the transmission of bulk power across India. Established in 1989, it owns and operates around 176,109 ckm of Extra High Voltage (EHV) transmission lines and 275 EHV AC & HVDC Sub-stations.

In addition to power transmission, the corporation has diversified into the telecom business, providing backbone connectivity to all metros, major cities & towns. It’s also an implementing agency for the BharatNet project of GoI.

Financial Performance

Despite a 5.37% decline in consolidated net profit to Rs 3,597.16 crore in Q1 FY24 from Rs 3,801.29 crore in Q1 FY23, the corporation reported a marginal YoY increase in total income to Rs 11,257.60 crore in Q1 FY24.

Stock Performance

The company’s stock declined by 1.69% to trade at Rs 194.95 on the BSE, after hitting a 52-week high of Rs 203.95 earlier in the day.

This significant development marks another milestone for the Power Grid Corporation of India as it continues to play a pivotal role in India’s power transmission sector.

Conclusion

The Power Grid Corporation of India’s successful bid for the 20 GW Inter-State Transmission System Project in Rajasthan is a significant step forward in its mission to strengthen India’s power infrastructure. Despite the challenges reflected in its Q1 FY24 financial performance, the company continues to make strategic investments that promise to yield long-term benefits. The project will not only enhance the power transmission capacity in Rajasthan but also contribute to the overall growth of the power sector in India.

Disclaimer

This blog post is intended for informational purposes only and does not constitute investment advice. The information contained herein is based on publicly available sources believed to be reliable but is not guaranteed as to accuracy or completeness. Readers are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.

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