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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…

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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…