Power Grid Corporation of India Limited (POWERGRID), a leading electric power transmission company, has made two significant announcements that are likely to interest investors and stakeholders.

Scheduled Board Meeting for Q1 FY2023 Results

POWERGRID has scheduled a Board of Directors meeting on August 8, 2022, to consider and approve the unaudited financial results for the quarter ended June 30, 2022. The Audit Committee will review the results before they are presented to the board for approval.

In line with regulatory requirements, the company's trading window, which closed on June 30, 2022, will remain closed until August 10, 2022. It is set to reopen on August 11, 2022, allowing for trading to resume after the financial results are made public.

Successful Bid for Major Transmission Project

In a separate development, POWERGRID has been declared the successful bidder for a significant inter-state transmission system project. The company received the Letter of Intent (LoI) for the project titled "Transmission system for evacuation of power from Pumped Storage Projects in Sonbhadra District, Uttar Pradesh."

The project, awarded under the Tariff Based Competitive Bidding (TBCB) process, will be executed on a Build, Own, Operate and Transfer (BOOT) basis. It includes the following key components:

1. Establishment of a new 765/400kV Pooling Sub-station
2. Bay extension works at other upcoming sub-stations
3. 765kV transmission line works in Uttar Pradesh

This project is expected to enhance POWERGRID's transmission infrastructure in Uttar Pradesh and contribute to the efficient evacuation of power from pumped storage projects in the Sonbhadra district.

As POWERGRID continues to expand its portfolio and prepare for the release of its quarterly results, investors and industry observers will be keenly watching for further developments from this key player in India's power transmission sector.

Power Grid Corporation of India Limited (POWERGRID), a leading player in the power transmission sector, has achieved a significant milestone by winning a bid for a crucial inter-state transmission system project in Uttar Pradesh. The project, aimed at power evacuation from pumped storage projects, marks another step in POWERGRID's expansion of its transmission infrastructure.

Project Details

POWERGRID has been declared the successful bidder for the project titled "Transmission system for evacuation of power from Pumped Storage Projects in Sonbhadra District, Uttar Pradesh." This project will be executed under the Tariff Based Competitive Bidding (TBCB) framework, following a Build, Own, Operate, and Transfer (BOOT) model.

Scope of the Project

The project encompasses several key components:

1. Establishment of a new 765/400kV Pooling Sub-station
2. Bay extension works at other upcoming sub-stations
3. 765kV transmission line works in Uttar Pradesh

This comprehensive infrastructure development is expected to significantly enhance the power transmission capabilities in the region, particularly benefiting the pumped storage projects in Sonbhadra District.

Official Confirmation

POWERGRID received the Letter of Intent (LoI) for this project on September 4, as disclosed in their official communication to the National Stock Exchange of India Limited and BSE Limited on September 5. This announcement, made in compliance with SEBI regulations, underscores the company's commitment to transparency and timely disclosure of material developments.

Strategic Importance

The successful bid for this inter-state transmission system project aligns with POWERGRID's strategic objectives to strengthen India's power infrastructure. By facilitating the evacuation of power from pumped storage projects, this initiative is expected to play a crucial role in enhancing grid stability and supporting the integration of renewable energy sources.

As POWERGRID continues to expand its portfolio of transmission projects, this latest win reinforces its position as a key player in India's evolving energy landscape. The successful implementation of this project will contribute to the improved power transmission capabilities in Uttar Pradesh and surrounding regions, potentially leading to more reliable and efficient power distribution.

Stakeholders and industry observers will be keenly watching the progress of this project, as it represents another step forward in India's ongoing efforts to modernize and strengthen its power infrastructure.