Power Grid bags 2 transmission projects for evacuation of solar power in Rajasthan

• The Maharatna PSU said that a Letter of Intent (LoI) has been issued to Power Grid for the two projects on February 16

• PGCIL has secured the projects under the "Transmission Systems Strengthening Scheme for evacuation of power from Solar Energy Zones in Rajasthan (8.1 GW) under Phase-II

New Delhi: State-run Power Grid Corporation of India Ltd (PGCIL) has bagged orders to set up two transmission projects for evacuation of power from solar energy zones in Rajasthan. Without disclosing the value of the two orders, PGCIL said in a regulatory filing to the stock exchanges on Wednesday, "… it is to inform that Power Grid Corporation of India Limited (POWERGRID) has been declared as the successful bidder under TBCB to establish following two projects on build, own operate and maintain (BOOM) basis."

Letter of Intent issued to Power Grid for two transmission projects

The Maharatna PSU said that a Letter of Intent (LoI) has been issued to Power Grid for the two projects on February 16. The company has secured the two projects on build, own operate and maintain basis under the "Transmission Systems Strengthening Scheme for evacuation of power from Solar Energy Zones in Rajasthan (8.1 GW) under Phase-II." The two projects are two parts under phase II — Part D and F. While Part D covers the "establishment of 765kV D/C Transmission line and associated substation extension works in Rajasthan and Uttar Pradesh," Part F covers the "establishment of a new 400/220kV Substation, STATCOM, and substation extension works in Rajasthan and also 400kV DIC Transmission lines which traverse in Rajasthan and Haryana."

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Earlier, Power Grid had been awarded Part A and B of the same projects under the same scheme.

The backdrop

The news comes after Power Grid posted Profit after Tax (PAT) and Total Income of Rs 3,368 crore and Rs 10,359 crore respectively for Q3FY21, registering an increase of about 26 percent and 9 percent respectively with respect to the corresponding period of FY20. Power Grid's physical assets (including subsidiaries) include 1,68,000 km of transmission lines, 253 substations with transformation capacity of about 4,25,000 MVA.

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