Power Grid Corporation emerges lowest bidder for inter-state transmission system

Shares of Power Grid Corporation of India Limited has emerged as the successful bidder to establish an inter-state transmission system project.

The project involves setting up a new electric station in Rajasthan’s Dausa. The venture includes bay extension works and construction of a transmission line to connect the station with existing electrical lines, the company said in a filing to the stock exchanges on September 5.

“The project comprises establishment of a new 765/400kV substation at Dausa, one 765kV D/C Transmission Line, LILO of both circuits of one 765kV D/C Line and LILO of both circuits of one 400kV D/C line at new 765/400kV substation in the state of Rajasthan and associated bay extension works,” Power Grid Corporation said.

The company won the project on the basis of tariff-based competitive bidding and will construct the transmission system on Build, Own, Operate and Transfer (BOOT) basis.

Power Grid Corporation bagged contracts in August to set up inter-state transmission system projects

The public sector undertaking won a contract in August for a number of inter-state transmission system projects. This includes a transmission system in Rajasthan under Phase III Part B1 for the evacuation of power from renewable energy zones. The project is expected to generate 20GW power. It comprises setting up a 765/400/220 kV pooling station at Bhadla-3. A 765 kV D/C transmission line traversing in Rajasthan as well as associated bay extension works will also be included.

The other bid won by the Power Grid Corporation of India involves a transmission project for a solar energy zone in Andhra Pradesh’s  Ananthapuram (Anantapur) and Kurnool. The venture is expected to generate 3,500 MW power with 1,000 MW in Kurnool and the rest in Ananthapuram.

This will involve establishing a 400/220 kV pooling station at a border location between Anantapur and Kurnool as well as two 400 kV D/C transmission lines traversing in the state and associated bay extension works.

Power Grid Corporation June quarter results

Power Grid Corporation has a market capitalisation of Rs 1.76 lakh crore. The PSU recorded a revenue of Rs 10,436.11 crore in the June quarter, a sharp decline from Rs 11,494.90 crore in March 2023. The net profit of the company also fell from Rs 4,214.40 crore in March to Rs 3,542.65 crore in June.

Shares of PowerGrid opened higher at Rs 256 apiece on BSE compared to its previous close of Rs 254.30. The stock reached a high of Rs 257.20 in early trade, but later pared the gains.

The stock was trading 0.67 per cent lower at Rs 252.60 apiece BSE at 2:13 PM.