Power Grid Hits 52-Week High as Successful Bidder for Khavda RE Park Project

6 Dec 2023 , 02:42 PM

Power Grid Corporation of India’s share price rises nearly 1% to a 52-week high of Rs 226 in early trade on December 6. At the time of writing, Power Grid Corporation was trading at Rs 223.95 which is a 0.74% increase than the previous close.

Declared a successful bidder for a project from the Khavda RE park, involving the establishment of an inter-state transmission system for evacuating 7 GW of RE power.

The project operates on a build-own-operate-and-transfer (BOOT) basis, and the company received the Letter of Intent (LoI) on December 4, 2023.

Project includes setting up a 765/400kV switching station at Vataman in Ahmedabad district, three 765kV D/c transmission lines in Gujarat, and extension works at Navsari and Halvad substations.

On November 30, the company was declared a successful bidder for two inter-state transmission system projects under tariff-based competitive bidding on a BOOT basis.

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