| 'Power Grid has been declared the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for the project titled 'Transmission System Strengthening at Kurnool-III PS for Integration of Additional Renewable Energy Generation Projects' on a Build, Own, Operate, and Transfer (BOOT) basis,' the company stated in the press release.
The project includes the augmentation of transformation capacity at the existing Kurnool-III substation and extension works at the existing C’peta substation, along with a 765 kV D/C transmission line. The entire scope of the project is in the state of Andhra Pradesh.
The power transmission firm received the Letter of Intent (LoI) for the same project on 6 March 2025.
The Power Grid Corporation of India was established by the Government of India (GoI) as the central transmission utility of India. The company is a 'Maharatna' firm under the Ministry of Power, GoI. As of 31 December 2024, the Government of India owned a 51.34% stake in the company.
The company’s consolidated net profit declined by 4.1% to Rs 3,861.63 crore in Q3 FY25, compared to Rs 4,028.25 crore posted in Q3 FY24. Revenue from operations fell 2.7% year-on-year (YoY) to Rs 11,233.03 crore in the quarter ended 31 December 2024.
Shares of Power Grid Corporation of India shed 0.54% to Rs 265 on the BSE. |