Infrastructure Project Award
POWERGRID Declared Successful Bidder for Krishnagiri REZ Phase-I Inter-State Transmission Project
NSE
powergrid
BSE
532898
Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder under Tariff Based Competitive Bidding (TBCB) for the “Transmission System for Integration of Krishnagiri REZ Phase-I” project on a Build, Own, Operate and Transfer (BOOT) basis.
PRICE-SENSITIVE TRIGGER
Event: POWERGRID has been declared the successful bidder for an inter-state transmission project under the Tariff Based Competitive Bidding (TBCB) mechanism.
Type: Infrastructure Project Award
Impact: Positive
Immediate Effect: The company has received the Letter of Intent (LoI) for executing a major inter-state power transmission project aimed at integrating renewable energy capacity from Krishnagiri REZ Phase-I.
Key Metrics:
- Project: Transmission System for Integration of Krishnagiri REZ Phase-I
- Awarding Mechanism: Tariff Based Competitive Bidding (TBCB)
- Project Model: Build, Own, Operate and Transfer (BOOT)
- Letter of Intent (LoI): Received on 10 July 2026
- New Substations: 2 × 765/400 kV
- Transmission Lines: 765 kV and 400 kV transmission corridors
- States Covered: Andhra Pradesh, Telangana and Karnataka
- Associated Infrastructure: Transmission bays and related facilities
Highlight:
- POWERGRID secured a strategically important inter-state transmission project supporting renewable energy integration across three southern states.
What Happened ?
POWERGRID informed the stock exchanges that it has been declared the successful bidder under the Tariff Based Competitive Bidding (TBCB) process for establishing the Transmission System for Integration of Krishnagiri REZ Phase-I.
The project will be executed on a Build, Own, Operate and Transfer (BOOT) basis. The company received the Letter of Intent (LoI) on 10 July 2026, marking the next step toward project implementation.
key details
Project Scope:
- Establishment of two new 765/400 kV substations in Andhra Pradesh.
- Construction of 765 kV and 400 kV transmission lines.
- Transmission network will traverse Andhra Pradesh, Telangana and Karnataka.
- Includes construction of associated transmission bays and supporting infrastructure.
Note:
- The project is designed to strengthen the inter-state transmission network required for integrating renewable energy generated under the Krishnagiri Renewable Energy Zone (REZ) Phase-I, supporting India’s expanding clean energy infrastructure.
Risk Analysis
Summary:
- Winning the project enhances POWERGRID’s order pipeline and long-term regulated asset base. However, project execution remains subject to regulatory approvals, construction timelines and implementation risks.
Key Risks:
- Project execution delays could postpone commissioning.
- Land acquisition and statutory clearances may impact timelines.
- Cost escalation during construction could affect project economics.
- Delays in renewable energy project commissioning may defer transmission asset utilization.
Worst Case:
- Extended regulatory or execution delays could postpone project capitalization and associated transmission revenues.
Risk Level: Low
Company Commentary
- POWERGRID has been declared the successful bidder under the Tariff Based Competitive Bidding process.
- The project will be executed on a BOOT basis.
- The company received the Letter of Intent on 10 July 2026.
- The project includes development of substations, high-voltage transmission lines and associated infrastructure for renewable energy integration.
Official Exchange Filing: Power Grid Corporation of India Limited
