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Powergrid InvIT announces H1 FY2024-25 results

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Power Grid Corporation of India Limited (POWERGRID) has released the half-yearly report for its Infrastructure Investment Trust, POWERGRID Infrastructure Investment Trust (PGInvIT). PGInvIT recorded a consolidated income of Rs 6,557.15 million for H1 FY2024-25, reflecting strong revenue generation. Net distributable cash flows reached Rs 5,228.20 million, with total distributions of Rs 5,460 million to unitholders. The Trust also reported EBITDA of Rs 6,125.07 million and a margin of 93.41%. PGInvIT manages five transmission assets in…

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PFCCL transfers transmission subsidiaries to Powergrid

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PFC Consulting Limited (PFCCL), a subsidiary of Power Finance Corporation Limited, has transferred two wholly owned subsidiaries, Khavda PSI and 3 Transmission Limited and Barmer I Transmission Limited, to Power Grid Corporation of India Limited (Powergrid) for a total of Rs 268.2 million.  Khavda PSI and 3 Transmission Limited was transferred for Rs 79.2 million, and Barmer I Transmission Limited for Rs 189 million.  Barmer I Transmission Limited focuses on establishing a new 765/400/220 kV…

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PGCIL wins bid for 8 GW transmission project in Gujarat’s Khavda REZ

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Power Grid Corporation of India Limited (PGCIL) has been awarded the inter-state transmission system (ISTS) project to evacuate power from the renewable energy zone in the Khavda area of Gujarat under Phase-V (8 GW), Part A. The project will be developed on a build, own, operate, and transfer (BOOT) basis. The project includes the establishment of 6,000 MW, ±800kV HVDC terminals at KPS2 (Gujarat) and Nagpur (Maharashtra), along with a ±800kV HVDC bipole line stretching…

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Power Grid approves issuance of bonds to raise up to Rs 50 billion

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Power Grid Corporation of India Limited (PGCIL) has received approval from its committee of directors to issue its 79th bond series (2024-25), which will raise up to Rs 50 billion through a private placement.  The bond issuance has a base size of INR 10 billion, with a green shoe option allowing for an additional Rs 40 billion. These bonds are unsecured, non-convertible, non-cumulative, and taxable, with a 10-year maturity period. The bonds will be redeemable…

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PGCIL wins Barmer I Transmission in Rajasthan

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Power Grid Corporation of India Ltd (PGCIL) has been declared the successful bidder for the interstate transmission system (ISTS) project under “Barmer I Transmission Ltd” through tariff-based competitive bidding (TBCB). This project, known as “Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-2: 5.5 GW),” includes the establishment of a new 765/400/220kV Barmer-I pooling substation and transmission lines, with interconnectivity to the upcoming Sirohi Pooling Station. The project, valued at Rs 27.35 billion,…

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PGCIL, Adani, Sterlite Power in race for Gujarat’s HVDC transmission project

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Three players—Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL), and Sterlite Power—have qualified to compete for a major interstate transmission system (ISTS) scheme in Gujarat, involving high-voltage direct current (HVDC) technology. The scheme is part of the Khavda V-A Power Transmission project, aimed at evacuating 8 GW of renewable energy from the Khavda region in Gujarat. Developer selection is being conducted through tariff-based competitive bidding (TBCB). The project is estimated to…