Power Grid wins project to boost renewable energy transmission in Karnataka

State-owned Power Grid Corporation of India Ltd on Thursday (January 8) said it has been declared the successful bidder under tariff-based competitive bidding (TBCB) to establish an inter-state transmission system. The project involves strengthening the transmission system “for integration of additional RE potential” at Davanagere (0.25 GW) and Bellary (2.75 GW) in Karnataka.

The project, awarded on a build, own, operate and transfer (BOOT) basis, includes a 400 kV double-circuit transmission line

traversing Karnataka, along with associated line bay works at both ends. It also involves the augmentation of existing infrastructure, including ICTs and line bays at the Davanagere and Bellary pooling stations.

Also Read: PowerGrid bags 2,000 MWh battery energy storage project in Andhra Pradesh

Power Grid Corporation of India received the letter of intent (LoI) for the project today, January 8.

Second Quarter Results

Power Grid Corporation of India posted a 6% year-on-year drop in net profit at ₹3,566 crore from ₹3,793 crore in Q2FY25, missing the CNBC-TV18 poll estimate of ₹3,780 crore. Revenue grew 1.8% YoY to ₹11,476 crore from ₹11,277 crore, slightly above analysts’ estimate of ₹11,431 crore.

EBITDA declined 6.1% YoY to ₹9,114 crore from ₹9,701 crore, falling short of the CNBC-TV18 forecast of ₹9,958.6 crore. Margins narrowed to 79.4%, compared with 86% a year ago and below the expected 87% in the analyst poll.

Also Read: Power Grid to raise up to ₹3,800 crore via bond issue

The board of directors had approved the payment of the first interim dividend of ₹4.50 per equity share of ₹10 each, representing 45% of the paid-up equity share capital for FY26.

Shares of Power Grid Corporation of India Ltd ended at ₹259.25, down by ₹4.85, or 1.84%, on the BSE today, January 8.