INDIA —Power Grid Corporation of India Ltd. is a Maharatna public sector enterprise operating under India's Ministry of Power. As the country's central transmission utility, the organization develops, operates, and maintains a vast interstate electricity transmission network that forms the backbone of the national power grid.
India's interstate transmission system is expanding infrastructure in the western region to evacuate clean power from generation hubs. Through a competitive bidding process, a Build, Own, Operate and Transfer mandate was awarded to establish high-voltage transmission corridors and a new 765/400 kV substation at Lakadia-II in Gujarat. Designed to integrate 7.5 gigawatts of green energy into the national grid, the project features a synchronous condenser to preserve system stability and carries annual tariff charges quoted at ₹11.52 billion.
This contract follows another recent interstate transmission award in neighboring Rajasthan, where infrastructure servicing 6 gigawatts of solar power in the Barmer region was secured with quoted annual transmission fees of ₹32.44 billion. Combined, these inter-state initiatives support the evacuation of 13.5 gigawatts of renewable energy across both states and generate aggregate annual transmission charges of approximately ₹43.97 billion for the utility operator.
The expansion strengthens overall grid resilience by bridging remote generation centers with high-demand industrial nodes. For institutional investors and power market stakeholders, securing long-term regulated tariffs under tariff-based competitive bidding models provides predictable long-term revenue streams while supporting national decarbonization targets.