Power Grid Corporation of India (Powergrid) said it has emerged as the successful bidder for a transmission project in Gujarat.

The project has been secured through a tariff-based competitive bidding process, the company said in an exchange filing.

"It has been declared as the successful bidder to establish inter-state transmission system for evacuation of power from potential renewable energy zone in Khavda under Phase-V (8 GW): Part A," it added.

The project will be set up on a build, own, operate and transfer (BOOT) basis, the company said.

Under the Ministry of Power, Powergrid is India's largest electric power transmission utility.