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Power Grid Corporation of India (POWERGRID) has emerged as the successful bidder

ICICIdirect Research 10 Jul 2026 DISCLAIMER

News: Power Grid Corporation of India (POWERGRID) has emerged as the successful bidder under the Tariff-Based Competitive Bidding (TBCB) mechanism for the "Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)" interstate transmission project on a BOOT basis. The project includes augmentation and bay extension works at Bhadla-III and Ramgarh substations in Rajasthan and Kanpur substation in Uttar Pradesh, with the company receiving the Letter of Intent (LoI) on July 9, 2026.

View: Given POWERGRID’s regulated-return transmission model, the project is expected to provide stable long-term cash flows upon commissioning, supporting steady asset capitalization and earnings visibility over the medium term.

Impact: Positive

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