Power Grid Corporation of India announced that it has been declared as a successful bidder under tariff based competitive bidding (TBCB) to establish inter-state transmission system in Madhya Pradesh (MP).
Power Grid has been declared as the successful bidder under TBCB to establish inter-state transmission system for the project namely transmission system for evacuation of power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/ Barmer Complex): part H1 on build, own operate and transfer (BOOT) basis, the company stated in the press release.
The project comprises establishment of new 765/400/220kV sub-station at Kurawar, 765kV & 400kV D/C transmission lines and associated bays extension works at other existing substation in Madhya Pradesh.
The power transmission firm also received letter of intent (LoI) for the same project on 18 September 2024.
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 Ministry of Power, GoI. As of 30 June 2024, the Government of India owned a 51.34% stake in the company.
The company reported 3.52% increase in consolidated net profit to Rs 3,723.92 crore in Q1 FY25 as compared with Rs 3,597.16 crore posted in corresponding quarter last year. Revenue from operations fell marginally to Rs 11,006.18 crore during the quarter as comapred with Rs 11,048.13 crore posted in corresponding quarter last year.
Shares of Power Grid rose 0.45% to end at Rs 335.70 on the BSE.
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First Published: Sep 19 2024 | 4:17 PM IST
