Power Grid Corp announces bidder inter-state transmission project

18 Jul 2022 CW Team

In order to evacuate electricity from Neemuch SEZ, an interstate transmission infrastructure must be established, according to Power Grid Corporation of India.

According to tariff-based competitive bidding (TBCB), the company's offer was considered successful. Build, own, operate, and transfer (BOOT) was used to award the project.

To Power Grid Corporation of India, a letter of intent (LoI) dated July 7, 2022, has been issued. The Government of India (GoI) has formed Power Grid Corporation of India as the country's main transmission utility.

The Government of India held a 51.34 per cent ownership in the business as of March 31, 2022. In Q4 FY22 over Q4 FY21, the company's net profit increased by 17.9% per cent to Rs 41.56 billion on an increase in net sales of Rs 106.86 billion of 1.7 per cent. On the BSE, Power Grid Corp. shares fell 0.59 per cent to Rs 217.50.

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