Power Grid Wins Bid For Interstate Transmission Line

Power Grid Corp. has emerged as the successful bidder to establish an interstate transmission system from the Renewable Energy Zone in Rajasthan.

The company won the tariff-based competitive bidding process for "evacuation of power from REZ in Rajasthan (20 GW)" on a build-own-operate-transfer basis, according to an exchange filing on Monday.

The scope of the project comprises the establishment of two transmission lines along with associated bays' extension works at existing substations in Rajasthan and Delhi. The letter of intent was received by Power Grid on Monday.

Shares of Power Grid closed 0.23% higher at Rs 237.75 apiece on the BSE ahead of the announcement, as compared with a 0.04% gain in the benchmark Sensex.