State-owned Power Grid Corporation of India Ltd has been declared the successful bidder for an inter-state transmission project in Gujarat under the Tariff Based Competitive Bidding (TBCB) route, with a discovered tariff of ₹822.91 crore per annum. According to reports from CNBC TV18 and Business Standard, the project will integrate power from renewable energy projects in Jam Khambhaliya and Jamnagar and will be executed on a Build, Own, Operate and Transfer (BOOT) basis. The company received the Letter of Intent (LoI) on August 21, 2026.
The project involves establishing a new Gas Insulated Substation (GIS) at Kalyanpur, Gujarat, along with Information and Communication Technology (ICT) augmentation and bay extension works at under-construction substations in Gujarat. As reported by CNBC TV18 and Business Standard, it will also involve the construction of 765 kV transmission lines traversing the state of Gujarat. The project is titled "Transmission system for Integration of Power from RE Projects in Jam Khambhaliya REZ in Gujarat - Phase II (5,500 MW) and Jamnagar Phase-I (1,000 MW)".
For the quarter ended June 30, Power Grid's profit stood at ₹3,598.42 crore, down 0.9% from ₹3,630.58 crore in the corresponding period last year. However, according to CNBC TV18, revenue from operations rose 2.7% year-on-year to ₹11,496.72 crore, compared with ₹11,196.22 crore in the year-ago quarter. The transmission business, the company's largest segment, reported revenue of ₹10,929.16 crore in the June quarter, up from ₹10,694.66 crore a year ago. Consultancy revenue increased to ₹518.73 crore from ₹405.92 crore, while telecom revenue declined to ₹251.77 crore from ₹289.49 crore in the corresponding quarter last year.
Shares of Power Grid Corporation of India Ltd ended at ₹272.30, up by ₹7.05, or 2.66%, on the BSE following the project announcement. As reported by CNBC TV18, the company's total expenses increased to ₹7,111.66 crore in the June quarter from ₹7,114.23 crore year earlier.
