POWERGRID commissions RE transmission project, gets higher investment limit

Power Grid Corporation of India Ltd. (POWERGRID) has announced the full commissioning of a major interstate transmission system and Cabinet approval to raise its equity investment limit per subsidiary. The developments were disclosed in exchange filings on February 24, 2026.

POWERGRID’s wholly owned subsidiary, POWERGRID Narala Transmission Limited, has commissioned an Inter-State Transmission System (ISTS) project titled “Transmission System Strengthening Scheme for evacuation of power from Solar Energy Zones in Rajasthan (8.1 GW) under Phase-II Part-G.” The project was secured through Tariff-Based Competitive Bidding (TBCB). The company stated that the project was commissioned with effect from December 7, 2025, while the Date of Commercial Operation (DOCO) notification was received on February 24, 2026.

Separately, the Cabinet Committee on Economic Affairs (CCEA) approved enhanced delegation of financial powers to POWERGRID on February 24 under the Maharatna Central Public Sector Enterprise (CPSE) guidelines. The approval raises the equity investment limit per subsidiary from Rs 5,000 crore to Rs 7,500 crore, while the existing cap of 15 % of the company’s net worth remains unchanged.

The revised limit is expected to support expansion of POWERGRID’s core transmission business and facilitate renewable energy evacuation aligned with India’s target of 500 GW non-fossil fuel-based capacity. According to a government press release, the approval enables the company to participate in capital-intensive projects such as Ultra High Voltage Alternating Current (UHVAC) and High Voltage Direct Current (HVDC) networks, expanding competition in the TBCB process and improving price discovery for major transmission projects.