POWERGRID Secures Major Transmission Project From Rajasthan REZ Phase-IV

Power Grid Corporation of India Limited (POWERGRID) informed the stock exchanges that it has been declared the successful bidder under Tariff-Based Competitive Bidding (TBCB) for the development of a significant inter-state transmission system project. 

The project, titled “Transmission System for Evacuation of Power from Rajasthan REZ Phase-IV (Part-3: 6 GW) [Bikaner Complex] – Part B,” will be executed on a build, own, operate, and transfer (BOOT) basis. The company stated that it had received the Letter of Intent (LoI) for this project on October 21, 2024.

The scope of the project includes the establishment of a new 765/400 kV substation at Siwani, along with a Static Synchronous Compensator (STATCOM) and other associated equipment. Additionally, the project involves the construction of a 765 kV double-circuit (D/C) transmission line that will traverse through the states of Rajasthan and Haryana. 

Furthermore, various 400 kV double-circuit transmission lines will be laid across Haryana, with bay extension works for these lines being implemented at existing substations in Rajasthan and Haryana. This project is crucial for facilitating the evacuation of power from renewable energy sources, particularly from the Rajasthan Renewable Energy Zone (REZ).

Earlier this month, on October 15, 2024, PGCIL also acquired South Olpad Transmission Limited, the special purpose vehicle (SPV) for another major transmission project. This project is focused on establishing a transmission system for the evacuation of power from the renewable energy zone in the Khavda area of Gujarat, under Phase-IV (7 GW): Part B. Like the Rajasthan project, this will also be executed on a BOOT basis. PGCIL was selected as the successful bidder under TBCB for this project as well.

The Khavda project involves the creation of a new 765/400/220 kV Gas-Insulated Substation (GIS) at a strategic location near South Olpad. It also includes the construction of 765 kV and 400 kV double-circuit transmission lines, along with bays extension works at existing substations in Gujarat.

On October 23, 2024, POWERGRID share price opened at ₹319.20, touching the day’s low at ₹315.45, as of 9:34 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.