Power Grid Corporation of India said it has been selected as the successful bidder for the transmission project to evacuate 3.5 GW of power from Rajasthan Renewable Energy Zones (REZ).
The project comprises the establishment of a 765/400 kV substation near Ghiror in Mainpuri, Uttar Pradesh, along with 765 kV and 400 kV transmission lines, and augmentation and bay extension works at existing and under-construction substations in the States of Rajasthan & Uttar Pradesh.
The award has been granted under tariff-based competitive bidding (TBCB) and will be executed on a build, own, operate, and transfer (BOOT) basis.
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.
Shares of Power Grid Corporation of India rose 0.12% to Rs 343.25 on the BSE.
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