Power Grid shares rallied by 5%, gets transmission project in Rajasthan and UP

State-owned Power Grid Corporation of India has been declared the successful bidder for the transmission system for evacuation of power from a project spanning Rajasthan and Uttar Pradesh. The shares of the Power company got some revival, yet fell again by 0.95% in today's session.

As per the filing made, Power Grid Corporation of India Limited has been declared as the successful bidder under Tariff competitive bidding to establish an Inter-State transmission system for the project namely “Transmission System for evacuation of power from Rajasthan REZ Ph-IV (Part-4: 3.5 GW): Part A” on the build, own, operate and transfer (BOOT) basis.

Read Also : Three major Rail project of Rs 7,927 crore gets approval to boost rail connectivity

The award, granted under tariff-based competitive bidding (TBCB), will be executed on a build, own, operate, and transfer (BOOT) basis. Power Grid received the letter of intent (LoI) for the project on November 25, 2024.

The project, across Rajasthan and Uttar Pradesh, includes 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 both states.

"The project comprises of establishment of 765/400kV sub-station at a suitable location near Ghiror (Distt. Mainpuri) in the State of Uttar Pradesh, 765kV & 400kV Transmission lines traversing in the States of Rajasthan & Uttar Pradesh, augmentation and bay extension works at under-construction and existing sub-stations in the States of Rajasthan & Uttar Pradesh," the company said.

Read Also : Two hydroelectric projects in Arunachal Pradesh gets approved worth Rs 3689 crore