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PGCIL acquires SPV for Mahan Energen transmission project

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Power Grid Corporation of India Limited (POWERGRID) has completed the acquisition of MEL Power Transmission Limited (MPTL), a special purpose vehicle set up for the transmission system linked to Mahan Energen Limited’s power station in Madhya Pradesh. The acquisition was finalised on June 4, 2025. MPTL was initially incorporated by PFC Consulting Limited (PFCCL) on November 20, 2024, to implement the transmission scheme through the Tariff-Based Competitive Bidding (TBCB) route. PFCCL served as the bid…

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Powergrid awards over Rs 17 billion in fresh contracts and posts steady profit

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Power Grid Corporation of India Limited (Powergrid) has issued several key project awards recently, with the latest set totalling over Rs 17 billion. These include notable contracts awarded to KEC International, VIKRAN Engineering, CG Power, and GE Vernova.   KEC International secures Rs 11.33 billion in T&D orders KEC International Limited has bagged fresh orders worth Rs 11.33 billion in the transmission and distribution (T&D) business. The projects include ±800 kV high-voltage direct current (HVDC) and…

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Toshiba and Advait win Powergrid contracts worth over Rs 14 billion

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Power Grid Corporation of India Limited (PGCIL) has awarded two major contracts valued at over Rs 14 billion to Toshiba Transmission & Distribution Systems (India) Private Limited and Advait Energy Transitions Limited. Toshiba has secured a contract worth Rs 5.67 billion under the 400kV Transformer Package-4TR-07-BULK. The order includes procurement of 20 units of 500 MVA, 400/220/33kV, 3-phase transformers. This forms part of Powergrid’s bulk procurement of 765kV and 400kV class transformers and reactors of…

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POWERGRID commissions 85 MW solar plant in Madhya Pradesh

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Power Grid Corporation of India Limited (POWERGRID) has started commercial operations at its 85 MW solar photovoltaic (PV) power plant in Nagda, Ujjain, Madhya Pradesh. The plant was developed by POWERGRID through its wholly owned subsidiary, POWERGRID Energy Services Limited. The solar plant was commissioned and began commercial operations on April 24, 2025. NTPC Limited served as the consultant for the project, providing technical and project support. The solar facility spans 250 hectares across Makla…

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Powergrid to raise Rs 60 billion via 10-year bonds

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Power Grid Corporation of India Limited (Powergrid) has received approval to raise up to Rs 60 billion through its 81st bond issue via private placement.  The decision was cleared by the company’s Committee of Directors for Bonds on April 4, 2025. The bonds—named POWERGRID Bonds–LXXXI (81st Issue) 2025–26—will be unsecured, non-convertible, non-cumulative, redeemable, and taxable. The total issue includes a base size of Rs 15 billion and a green shoe option of Rs 45 billion,…

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POWERGRID secures Rs 28.86 billion transmission project for Kurnool-III PS

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Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder for the “Transmission system strengthening at Kurnool-III PS for integration of additional RE generation projects.”  The project, awarded through Tariff-Based Competitive Bidding (TBCB), will be executed on a build, own, operate, and transfer (BOOT) basis. POWERGRID received the Letter of Intent (LoI) on March 6, 2025. The Special Purpose Vehicle (SPV) for the project is Kurnool-III PS RE Transmission. The project, with…

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PGCIL signs green loan agreement with SMBC for RE integration

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Power Grid Corporation of India Limited (PGCIL) has signed a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) at GIFT City, Gandhinagar, Gujarat.  The agreement, denominated in JPY for the US dollar equivalent of $200 million with a greenshoe option of $150 million, will support critical infrastructure development for renewable energy (RE) evacuation and integration into the National Grid. The agreement was signed by Sh. Ashwani K. Gupta, ED (Finance), POWERGRID, Sh. Sriram Kumondur,…

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Powergrid commissions HVPNL interconnection project

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Power Grid Corporation of India Limited (PGCIL) has commissioned the “Augmentation of ISTS for Interconnection of HVPNL Transmission Schemes,” effective 6th October 2024, with the Notification for Commercial Operation (DOCO) received on 10th December 2024. The project connects the inter-state transmission system (ISTS) with HVPNL’s intra-state network, ensuring ‘N-1’ compliance at the 220 kV level. It includes ICT upgrades at the 400/220 kV Bahadurgarh and Jind substations. The Rs 11.7 billion project was approved by…

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Lack of bidders shifts Bhadla/Bikaner transmission project from TBCB to RTM

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The National Committee on Transmission (NCT) has approved the implementation of “Transmission system strengthening to facilitate evacuation of power from Bhadla/Bikaner complex.” The scheme was initially approved under the TBCB route in the 19th meeting of NCT, but due to the lack of sufficient bidders, the scheme has been de-notified from the TBCB route and will now be executed by POWERGRID. The project, estimated at Rs 19.88 billion, is expected to be completed within 18…

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PGCIL to implement Eastern Region Expansion Scheme-44

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The National Committee on Transmission (NCT) recently approved the Eastern Region Expansion Scheme-44 (ERES-44), estimated to cost Rs 3.85 billion, to be executed by Power Grid Corporation of India Ltd (PGCIL) under the Regulated Tariff Mechanism (RTM).  The project will modernize the ageing 220 kV transmission network in the Eastern region, including cross-border lines with Bhutan.  It involves replacing existing conductors with High-Temperature Low Sag (HTLS) conductors, capable of handling 1250 A current, across the…