State-owned Power Grid Corporation of India Ltd (POWERGRID) announced on Friday (June 12) that it has been declared the successful bidder under tariff-based competitive bidding (TBCB) to establish an inter-state transmission system project in Andhra Pradesh. According to reports from CNBC TV18, the company received the Letter of Intent (LoI) on June 12, 2026, for the project titled 'Transmission system for proposed Green Hydrogen / Green Ammonia projects in Kakinada area (Phase-I)'. This development aligns with India's broader energy transition strategy, as the country positions itself as a global leader in green hydrogen and renewable energy infrastructure.
The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis and includes establishing a new 765/400 kV GIS sub-station along with STATCOM and 765 kV transmission line works in Andhra Pradesh. As reported by CNBC TV18, the scope encompasses the complete transmission infrastructure required for the green hydrogen and green ammonia projects in the Kakinada area. This marks Power Grid's continued expansion in renewable energy transmission infrastructure development, supporting India's strategic focus on decarbonization and energy security.
This announcement follows Power Grid's acquisition of Tumkur II RE Transmission Ltd (TRETL) on May 29, 2026, after emerging as the successful bidder under the tariff-based competitive bidding process. According to CNBC TV18, the acquisition was completed through the bid process coordinator, PFC Consulting Ltd (PFCCL), under the build, own, operate and transfer (BOOT) model. The acquisition involved ₹15.46 crore, including 10,000 equity shares at par value of ₹10 each, along with the assets and liabilities of TRETL as on the acquisition date.
Shares of Power Grid Corporation of India Ltd ended at ₹285.00, down by ₹1.65, or 0.58%, on the BSE following the project announcement. As reported by CNBC TV18, the stock movement reflects market reaction to the company's latest business developments in the renewable energy transmission sector. The market response reflects investor confidence in Power Grid's strategic positioning in India's growing green energy infrastructure market.
