Power Grid Corporation of India was recently announced as the successful bidder through a tariff based competitive bidding process to establish an inter-state transmission system for projects on BOOT basis. The company received Letters of Intent (LoI) for multiple projects on 17 February, 2023. Power Grid Corporation of India’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.

February 20, 2023

One of India’s largest electric services company, Power Grid Corporation of India shared that it was declared as the successful bidder under tariff based competitive bidding to establish an inter-state transmission system for projects on build, own operate and transfer (BOOT) basis. The company has received Letters of Intent (LoI) for multiple projects including, “Transmission Network Expansion in Gujarat associated with integration of RE projects from Khavda potential RE zone; Inter-regional ER-WR Interconnection; Establishment of Khavda Pooling Station-2 (KPS2) in Khavda RE Park; Transmission scheme for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part B; and Transmission scheme for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part C.” Letters of Intent (LoI) for these projects were received by Power Grid on 17 February 2023.

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According to the filing, the company is assigned to establish 765kV D/C transmission lines passing through Gujarat while expanding the transmission network associated with integration of RE projects from Khavda potential RE zone. Power Grid will establish 400kV D/C transmission lines traversing through Orissa and Chhattisgarh and bays extension works for inter-regional ER-WR interconnection. It will establish a new 765/400kV GIS at Khavda in Gujarat for establishing Khavda Pooling Station-2 in the RE Park. The company is also set to establish 765kV D/C transmission lines passing through Gujarat and bays extension works for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part B. In addition to these projects, it will establish a new 765/400kV substation at Ahmedabad and bays extension work at Navsari in Gujarat and 765kV D/C Transmission lines passing through Gujarat for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part C.

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Power Grid Corporation of India’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.