Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder for an intra-state transmission system project in Maharashtra under the Tariff Based Competitive Bidding (TBCB) route, at quoted annual transmission charges of ₹199.55 crore. According to the latest corporate disclosure, the company received the letter of intent (LoI) on October 16, 2026, for the project titled 'Establishment of 765kV GIS Pune West (District - Pune)'. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis, involving the setup of a new 765/400 kV gas-insulated switchgear (GIS) substation at Pune West in Maharashtra, along with construction of 765kV and 400kV transmission lines across the state and associated bays. The project carries annual transmission charges of ₹199.55 crore and will strengthen high-voltage transmission infrastructure in Maharashtra, contributing to the development of a robust transmission network and improved capacity to transmit electricity across the region.
Power Grid shares responded positively to the project announcement, touching a day high of ₹253.25 on Friday following the company's disclosure of the Pune West project win. The stock had previously closed 0.24% higher at ₹250.45 on the NSE on Friday. The positive market reaction reflects investor confidence in the company's continued success in securing high-value transmission projects under the competitive bidding framework. The latest project award reinforces Power Grid's strong market position in the transmission sector and demonstrates the company's ability to win substantial contracts that contribute to long-term revenue visibility.
With this latest award, Power Grid has secured 10 transmission system projects under TBCB in FY 2026-27 so far, with cumulative annual transmission charges of ₹7,863.63 crore. As reported by CNBC TV18, the company had earlier on August 21 been declared the successful bidder under TBCB to establish an inter-state transmission system for renewable energy projects in Gujarat at a discovered tariff of ₹822.91 crore per annum. Among the other major projects secured by POWERGRID during FY27, the Lakadia REZ Phase II project, won in September 2026, carries annual transmission charges of ₹1,152.49 crore, while the Rajasthan REZ Phase-IV Barmer-II project has quoted annual transmission charges of ₹3,244.33 crore. The disclosure was made to the National Stock Exchange and BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The ₹199.55 crore annual transmission fee from the Pune West project reinforces Power Grid's leadership in high-voltage intra-state power transmission assets and demonstrates the company's competitive execution capability in complex urban and industrial power corridors. According to the latest reports, the addition of the Pune West 765kV GIS project underscores Power Grid's competitive execution capability in compact gas-insulated substations for high-density load centers where land availability is constrained. The contract brings long-term, visible revenue that adds to a series of substantial competitive bidding victories for the company, with sustained order wins under the TBCB framework highlighting Power Grid's structural advantage in capital cost efficiency and transmission line execution.
