PGCIL approves investment for Gujarat offshore transmission system projects
Author: PPD Team Date: February 5, 2025
The Committee of Directors (CoD) on investment of projects of Power Grid Corporation of India Limited (PGCIL) accorded investment approval for the Transmission System for Offshore Wind Zone Phase-1 (500 MW VGF off the coast of Gujarat for Subzone B3) and the Additional Transmission System proposed for redundant power supply area to Dholera area on February 3, 2025.
The estimated costs of the projects are Rs 3.19 billion and Rs 1.09 billion, respectively. The National Committee on Transmission (NCT) earlier recommended the schemes to PGCIL under the regulated tariff mechanism (RTM) process.
Further, the Electricity Power Transmission Association (EPTA) has requested the Central Electricity Authority (CEA) to implement the schemes on tariff-based competitive bidding (TBCB) mode.
PGCIL posted a net profit of Rs 38.61 billion for Q3 FY25, marking a 4.15 per cent decline from Rs 40.28 billion in Q3 FY24. The company’s total income dropped by 0.64 per cent to Rs 117.43 billion from Rs 118.19 billion in the previous year’s corresponding quarter.