Power Grid Corporation of India Limited (POWERGRID), a leading player in the Indian power transmission sector, has clinched a significant project in Karnataka through a competitive bidding process. The company announced its success in securing a transmission system strengthening project in Davanagere, aimed at bolstering the integration of renewable energy generation in the region.

Project Details

The project, awarded under the Tariff Based Competitive Bidding (TBCB) mechanism, involves crucial augmentation works at an under-construction sub-station in Davanagere, Karnataka. POWERGRID will execute this project on a Build, Own, Operate, and Transfer (BOOT) basis, reinforcing its commitment to enhancing India's power infrastructure.

Strategic Importance

This new venture is specifically designed to strengthen the transmission system at Davanagere, facilitating the seamless integration of renewable energy generation. The project aligns with India's growing focus on expanding its renewable energy capacity and improving the robustness of its power transmission network.

Official Confirmation

In an official communication to the stock exchanges, POWERGRID confirmed receiving the Letter of Intent (LoI) for this project. The company stated, "Power Grid Corporation of India Limited ('POWERGRID') has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System for the project namely 'Transmission system strengthening at Davanagere for Integration of RE generation' under Build, Own, Operate and Transfer (BOOT) basis."

Impact on Renewable Energy Integration

The Davanagere project is expected to play a crucial role in enhancing the region's capacity to incorporate renewable energy sources into the grid. By strengthening the transmission infrastructure, POWERGRID is contributing to the broader national goal of increasing the share of clean energy in India's power mix.

POWERGRID's Market Position

This latest project win underscores POWERGRID's strong position in the competitive transmission sector. The company's success in securing projects through the TBCB route demonstrates its competitive edge and technical expertise in the field of power transmission.

As POWERGRID continues to expand its project portfolio, industry observers will be keenly watching the execution and impact of this Davanagere project on Karnataka's power landscape and its contribution to India's renewable energy goals.

Power Grid Corporation of India Limited (POWERGRID), a leading power transmission company, has made significant strides in its financial and expansion plans. The company recently held its 36th Annual General Meeting (AGM) where shareholders approved key resolutions that will shape its future growth trajectory.

Massive Fundraising Plan Approved

POWERGRID shareholders have given their nod to an ambitious fundraising plan of up to ₹30,000.00 crore through bonds and debentures. This substantial capital raise is aimed at supporting the company's growth initiatives and infrastructure expansion plans. The approval allows POWERGRID to issue secured or unsecured, non-convertible, cumulative or non-cumulative, redeemable, taxable or tax-free debentures or bonds under private placement in one or more tranches or offers.

Investment in North-Eastern Region Expansion

In a separate development, POWERGRID's 'Committee of Directors on Investment on Projects' has approved a significant investment of ₹209.38 crore for the implementation of the "North-Eastern Region Expansion Scheme-XXIII (NERES-XXIII)". This project is scheduled to be commissioned within 30 months from the date of allocation, with a target completion date of February 3, 2028. The investment underscores POWERGRID's commitment to enhancing power infrastructure in the North-Eastern region of India.

Other Key AGM Highlights

The 36th AGM, held on August 26, 2025, through video conferencing, saw the participation of 231 members. Several important resolutions were passed, including:

• Adoption of audited financial statements
• Confirmation of interim dividends and declaration of final dividend
• Appointment and reappointment of directors
• Authorization for the Board to fix remuneration of statutory auditors
• Approval to enhance the borrowing limit from ₹16,000.00 crore to ₹25,000.00 crore

These decisions reflect POWERGRID's focus on corporate governance, financial prudence, and strategic growth initiatives. The company's proactive approach to fundraising and regional expansion projects positions it well to meet the growing power transmission needs of the country.

As POWERGRID moves forward with these plans, stakeholders will be keenly watching the execution of the North-Eastern expansion project and the utilization of the approved fundraising capacity to drive future growth and infrastructure development in India's power sector.