The Power Grid Corporation of India Limited, a government-owned entity, has successfully clinched a vital inter-state power transmission initiative focused on tapping into a 20-gigawatt Renewable Energy Zone (REZ) located in Rajasthan. The Letter of Intent (LoI) for this substantial project was granted on December 29, 2023, and officially acknowledged by the Power Grid Corporation on January 1, 2024.
Power Grid Corporation of India Limited, commonly known as Power Grid, stands as a pivotal entity in the Indian power sector. Established in 1989, it operates and maintains the country’s high-voltage transmission systems, managing the intricate network responsible for transmitting electricity across India. As a government-owned enterprise, Power Grid plays a critical role in ensuring efficient, reliable, and secure power transmission. Power Grid’s scope extends beyond domestic borders, engaging in consultancy services and collaborations worldwide. The corporation’s goal of sustainable growth, technological advancement, and fostering a robust energy infrastructure underscores its significant contribution to India’s power landscape and global energy connectivity.
Power Grid Corporation has clinched victory as the bidder in a Tariff-based Competitive Bidding scenario. Their successful bid pertains to establishing an Inter-State Transmission System that aims to evacuate power from the Renewable Energy Zone (REZ) located in Rajasthan. Specifically targeting Phase III Part D – Phase I, the approach for this project revolves around a build, own, operate, and transfer (BOOT) framework. The objective of this initiative is to construct a pair of high-capacity power lines that will transport electricity at 765 kilovolts, linking Rajasthan with Delhi. Additionally, the plan entails enlarging essential sections within the current substations situated in both Rajasthan and Delhi, as outlined in the formal regulatory paperwork.
This strategic plan supports the larger aim of improving the country’s renewable energy setup, which will greatly help in expanding the ability to transmit energy efficiently. This expansion is crucial for fully utilizing Rajasthan’s potential to generate 20 gigawatts of renewable energy. Power Grid Corporation’s winning offer highlights its crucial involvement in furthering India’s goals for sustainable energy and emphasizes its dedication to helping the nation shift towards cleaner energy sources. Prior to the significant revelation, the closing value of Power Grid’s shares stood at Rs 237.75 per share on the Bombay Stock Exchange (BSE), exhibiting a rise of 0.23%. This increase outpaced the benchmark Sensex’s marginal growth of 0.04%.