Wedoany.com Report-Mar 7, Power Grid Corporation of India announced that it has been declared as successful bidder under tariff-based competitive bidding (TBCB) to establish inter-state transmission system in Andhra Pradesh (AP).

"Power Grid has been declared the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for the project titled 'Transmission System Strengthening at Kurnool-III PS for Integration of Additional Renewable Energy Generation Projects' on a Build, Own, Operate, and Transfer (BOOT) basis," the company stated in the press release.

The project includes the augmentation of transformation capacity at the existing Kurnool-III substation and extension works at the existing Cpeta substation, along with a 765 kV D/C transmission line. The entire scope of the project is in the state of Andhra Pradesh. 

The power transmission firm received the Letter of Intent (LoI) for the same project on 6 March 2025.

The Power Grid Corporation of India was established by the Government of India (GoI) as the central transmission utility of India. The company is a 'Maharatna' firm under the Ministry of Power, GoI. As of 31 December 2024, the Government of India owned a 51.34% stake in the company.

The companys consolidated net profit declined by 4.1% to Rs 3,861.63 crore in Q3 FY25, compared to Rs 4,028.25 crore posted in Q3 FY24. Revenue from operations fell 2.7% year-on-year (YoY) to Rs 11,233.03 crore in the quarter ended 31 December 2024.