Maharatna PSU, Power Grid Corporation of India, will develop and operate transmission systems in Gujarat, which will operate at annual transmission charges of Rs 1,152 crore.
Power Grid Corporation: Gujarat project details
The state-owned firm emerged as the successful bidder under the tariff-based competitive bidding for the transmission system project. Under the scope of work, the PSU will establish inter-state transmission systems in Gujarat.
These systems will be established for the integration of power from renewable energy project in the Lakadia renewable energy zone (REZ) in Gujarat-Phase II, which stands at a capacity of 7,500 megawatts on a build, own, operate, and transfer basis.
The annual transmission charges for the project have been quoted at Rs 1,152.49 crore, and the letter of intent was received by Power Grid Corporation on September 3.
Additionally, the project involves the establishment of a new 765/400 kilovolt substation at Lakadia-II. Further, the PSU will construct 765kV transmission lines through Gujarat along with related equipment and bays.
As a part of the project, Power Grid Corp will also be involved in the installation & commissioning of a synchronous condenser at Lakadia-II Sub-station.
Power Grid share price performance
Power Grid Corporation of India’s share price is trading flat in Friday’s intraday trade. The company’s stock price has declined 6% in the past month. Over the past year, the share price has fallen by around 7%.
About Power Grid Corporation of India
Power Grid Corporation of India is a Government of India enterprise and the country’s principal electric power transmission utility, responsible for the bulk transfer of power across state and regional boundaries. The company operates and maintains a significant part of India’s inter-state transmission network and is listed on both the NSE and BSE. Its registered office is in New Delhi, with corporate headquarters in Gurugram, Haryana.