Synopsis: Power Grid Corporation of India Limited has emerged as the successful bidder for an inter-state transmission project aimed at integrating the Krishnagiri Renewable Energy Zone Phase-I. The project will involve two new 765/400 kV substations and high-voltage transmission lines across Andhra Pradesh, Telangana and Karnataka.
Shares of Power Grid Corporation of India Limited are likely to remain in focus after the company announced that it has been declared the successful bidder under Tariff Based Competitive Bidding for an inter-state transmission system project linked to renewable energy evacuation.
Power Grid Corporation of India Limited has a total market capitalization of approximately Rs. 2,64,137.15 crore. The company’s shares were trading at Rs. 284.15 apiece on the stock exchange, up by 0.37 percent. The stock has declined 0.32 percent over the last five trading sessions, while it has declined 0.54 percent over the last month. The stock touched a 52-week high of Rs. 325 and a 52-week low of Rs. 250.
According to the company’s exchange filing, POWERGRID has been selected as the successful bidder for the project titled “Transmission System for integration of Krishnagiri REZ Phase-I.” The company received the Letter of Intent on July 10, 2026, and will develop the project on a Build, Own, Operate and Transfer basis.
The project involves the establishment of two new 765/400 kV substations in Andhra Pradesh. It also includes the construction of 765 kV and 400 kV transmission lines traversing Andhra Pradesh, Telangana and Karnataka, along with associated transmission bays.
While the company has not disclosed the project value or implementation timeline, the project strengthens POWERGRID’s portfolio of transmission assets secured through the competitive bidding route. The high-voltage infrastructure will support the integration and evacuation of renewable power from the Krishnagiri Renewable Energy Zone into the broader inter-state electricity network.
The project is strategically important as large-scale renewable energy capacity requires corresponding investments in transmission infrastructure to transport electricity from resource-rich generation zones to major consumption centres. The addition of new substations and high-voltage transmission corridors can help improve grid connectivity and enable the integration of additional renewable energy capacity across southern India.
For POWERGRID, securing another Tariff Based Competitive Bidding project expands its future transmission asset base and supports long-term growth in its core business. Under the BOOT model, the company develops and operates the transmission infrastructure for the specified concession period before transferring the asset, providing long-term operating visibility subject to the project’s contractual terms.
India’s rapid expansion of solar and wind capacity is driving substantial investment in inter-state transmission infrastructure. Renewable energy projects are often concentrated in resource-rich regions, making large transmission corridors and substations essential for connecting generation centres with electricity demand across states. As India expands its renewable energy capacity, POWERGRID remains positioned to participate in the corresponding build-out of the national transmission network.
For investors, the development strengthens POWERGRID’s project pipeline and reinforces its dominant position in India’s power transmission sector. Although the financial size of the project has not been disclosed, the addition of another renewable energy integration project supports the company’s long-term growth opportunity as investments in grid expansion and renewable energy evacuation accelerate.
Incorporated in 1989, Power Grid Corporation of India Limited is a Maharatna Central Public Sector Enterprise under the Ministry of Power and is primarily engaged in the planning, implementation, operation and maintenance of inter-state power transmission systems. The company also provides telecom and consultancy services and plays a key role in transmitting electricity across India’s national grid.
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