Shares of Power Grid experienced a nearly 1% decline, even after the state-owned corporation secured a Letter of Intent for a significant 20 GW power transmission system in Rajasthan.
Power Grid Corporation successfully clinched an inter-state power transmission project dedicated to extracting power from a 20 GW renewable energy zone in Rajasthan. The project’s scope includes the establishment of two 765kV D/C transmission lines, spanning across Rajasthan and Delhi. Additionally, bay extension works at existing substations in both Rajasthan and Delhi are part of the project, as detailed in a regulatory filing.
The company emerged as the victorious bidder in the Tariff Based Competitive Bidding process, earning the right to build, own, operate, and transfer (BOOT) the Inter-State Transmission System. This specific project focuses on transmitting power from the Renewable Energy Zone (REZ) in Rajasthan, encompassing 20 GW under Phase-III Part D Phase I.
Despite this notable achievement, as of 10:42 am, Power Grid’s shares were trading 0.71% lower at ₹236.55.
