Power Grid Corporation of India has been declared as the successful bidder under tariff based competitive bidding (TBCB) to establish an inter-state transmission system on build, own operate and transfer (BOOT) basis.

Meanwhile, Power Grid, the state-owned power transmission company approved a proposal to raise up to Rs 12,000 through the issuance of bonds in one or more tranches in 2024-25.

The first project is the transmission system for the evacuation of power from Rajasthan (Jaisalmer/Barmer Complex). The project comprises the establishment of a new 765/400/220 kV pooling substation at Mandsaur, 765kV D/C transmission line and an extension of associated bays at an existing substation in Madhya Pradesh, Power Grid said in an exchange filing.

The second project, transmission system for evacuation of power from potential renewable energy zone at Khavda in Gujarat, comprises augmentation works at an existing substation in the state.

The third project is a transmission system for the evacuation of power from Rajasthan, involving the establishment of a new 765 kV sub-station at Rishabhdeo, 765 kV D/C transmission lines and the extension of associated bays at other substations in Rajasthan and Madhya Pradesh.

Given Power Grid’s buoyant capex pipeline and its execution track record, analysts believe the company should enjoy valuations closer to private sector peers.