Power Grid declared successful bidder for Gujarat project, shares hit 52-week high

The project comprises establishment of a new 765/400kV switching station at Vataman in Ahmedabad district, 3 number of 765kV D/c transmission lines (including a LILO line) traversing in the state of Gujarat as well as extension works at Navsari and Halvad substations.

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The share price of Power Grid Corporation of India gained nearly 1 percent to hit a 52-week high of Rs 226 in early trade on December 6 after the company was declared as a successful bidder for a project from the Khavda RE park.

At 9:28am, Power Grid Corporation of India was quoting Rs 224.15, up Rs 1.75, or 0.79 percent, on the BSE.

“We have been declared as a successful bidder under tariff-based competitive bidding to establish inter-state transmission system project for ‘transmission system for evacuation of additional 7 GW of RE power from Khavda RE park under Phase III Part B’ on a build-own-operate-and-transfer (BOOT) basis,” it said. The company received the Letter of Intent (LoI) on December 4, 2023.

The project involves setting up a 765/400kV switching station at Vataman in Ahmedabad district, three 765kV D/c transmission lines (including a LILO line) traversing in Gujarat as well as extension works at Navsari and Halvad substations.

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On November 30, the company was declared a successful bidder under tariff-based competitive bidding to set up two inter-state transmission system projects under build, own, operate and transfer (BOOT) basis.