The share price of Power Grid Corporation of India increased 2% on 24 September upon receiving a Letter of Intent (LoI) to develop an inter-state transmission system.

The company was chosen through a tariff-based competitive bidding process to set up dynamic reactive compensation at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) on a build, own, operate, and transfer basis. 

This project includes the pooling station STATCOM installations as well as the necessary bay extension work in Gujarat.

Earlier in September, the company was awarded two significant inter-state transmission projects. The first project involves establishing a new 765/400/220 kV Gas Insulated Substation (GIS) near South of Olpad in Gujarat, along with 765 kV and 400 kV Double Circuit (D/C) transmission lines and related bay extension works at existing substations in Gujarat. 

The second project involves setting up a similar 765/400/220 kV substation at Kurawar in Madhya Pradesh, also including 765 kV and 400 kV D/C transmission lines and associated bay extensions at other substations in the state.

Additionally, the company has won a competitive bid to augment the transformation capacity at the Jam Khambhaliya Power Station (GIS) in Gujarat. This project will be executed on a Build, Own, Operate, and Transfer (BOOT) basis and involves enhancing the transformation capacity and extending associated bays at the existing substation in the state.

At 2:04 pm, the shares of Power Grid Corp were trading 2.74% higher at Rs 350.50 on NSE.

The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!