Shares of Power Grid Corporation of India rose 1.38 per cent to Rs 263.90 after the company announced that it has declared a successful bidder for a 2,000 MWh battery energy storage project.

The project involves the selection of battery energy storage developers to set up a cumulative capacity of 2,000 MWh, structured as 1,000 MW with a two-hour storage duration, to support on-demand power requirements. It will be implemented under the build-own-operate model and is supported by viability gap funding from the Power System Development Fund.

As part of the mandate, PowerGrid will establish a 150 MW/300 MWh standalone battery energy storage system at the 400/220 kV substation in Kalikiri, located in Andhra Pradesh’s Chittoor district. The facility will be set up at a selected APTRANSCO substation and is intended to enhance grid flexibility, reliability and resilience.

PowerGrid received the letter of award for the project on 29 December 2025. The battery energy storage system is expected to support peak and on-demand power requirements, improve the integration of renewable energy into the grid and strengthen the overall transmission infrastructure in Andhra Pradesh.

Power Grid Corporation of India was established by the Government of India as the country’s central transmission utility and holds Maharatna status under the Ministry of Power.

On the financial front, the company reported a 5.98 per cent decline in consolidated net profit to Rs 35.66 billion in Q2 FY26, even as revenue from operations rose 1.76 per cent year on year to Rs 114.76 billion.