The board of directors of state-owned Power Grid Corporation of India on Monday gave investment approvals for two projects — the eastern region expansion scheme-XXIX (ERES-XXIX) as well as the transmission system for Kurnool wind energy zone/solar energy zone.
The estimated cost for the ERES-XXIX is Rs 524.04 crore and is scheduled to be commissioned by November 2025. Whereas the estimated cost for the transmission system is Rs 3546.94 crore and the same is to be commissioned by November next year.
On another note,
last week, Power Grid emerged as the successful bidder under tariff-based competitive bidding for a transmission project in Gujarat.
As a part of the project, the company will be required to establish an inter-state transmission system for the establishment of Khavda Pooling Station-3 in Khavda RE Park on a build, own, operate, and transfer basis
The scope of the project involves the establishment of a new 765/400kV GIS Substation, 765kV D/C transmission line, and associated works in Gujarat.
The Letter of Intent (LoI) was received by Power Grid on February 27.
In the December quarter, the central transmission utility reported a nearly 11 percent growth in its
consolidated net profit at Rs 3,645.34 crore compared to Rs 3,292.97 crore in the year-ago period, primarily on the back of higher revenues.
The total income of the company increased to Rs 11,530.22 crore in the quarter from Rs 10,723.61 crore in the same period a year ago.
Power Grid's shares ended nearly 2.3 percent lower on the BSE at Rs 227 apiece.
