The Power Grid Corporation of India (POWERGRID) has emerged as the successful bidder for the execution of the two inter-state transmission system projects – Bhadla III Transmission and Ananthapuram Kurnool Transmission from PFC Consulting, to evacuate a total of 23.5 GW of renewable energy in Rajasthan and Andhra Pradesh.

The Bhadla III Transmission project is dedicated to establishing a transmission system to evacuate power from the renewable energy zone (REZ) in Rajasthan (20 GW) under Phase-III Part B1. The Ananthapuram Kurnool Transmission project is focused on creating a transmission project for solar energy zones in Ananthapuram (2,500 MW) and Kurnool (1,000 MW) in Andhra Pradesh.

The Rajasthan project encompasses establishing a new 765/400/220 kV pooling station at Bhadla III, a 765 kV D/C transmission line spanning the state, and associated bay extension works. This inter-state transmission system project is slated for construction within 18 months from the effective date of the contract.

POWERGRID won the Bhadla III project for a value of approximately ₹201.1 million (~$2.4 million), which includes 10,000 equity shares at a nominal value of ₹10 (~$0.12) each, as well as the assets and liabilities of the company as of the acquisition date.

The Ananthpuram Kurnool project involves setting up a new 400/220 kV pooling station at a suitable border location between Ananthapuram and Kurnool. Additionally, it includes installing two 400 kV D/C transmission lines traversing the state and associated bay extension works. The project is scheduled for completion within 24 months from the effective date of the contract.

The acquisition of the Ananthapuram Kurnool project amounted to approximately ₹199.9 million (~$2.4), which encompasses the purchase of 10,000 equity shares at a face value of ₹10 each (~$0.12), in addition to assuming the assets and liabilities of the company as of the acquisition date.

In March, POWERGRID raised the first tranche of its unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds for ₹9 billion (~$108 million) through private placement.

POWERGRID emerged as the successful bidder for the execution of the inter-state transmission system project to evacuate power from renewable energy zones in Rajasthan for 20 GW, Phase-III Part C1. The Letter of Intent was formally received on September 11, 2023.