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POWERGRID has been declared the successful bidder under TBCB

ICICIdirect Research 28 Sep 2026 DISCLAIMER

News: POWERGRID has been declared the successful bidder under TBCB for the Common Transmission System for evacuation of power from Lakadia (Phase-II: 7.5GW), Jam Khambhaliya (Phase-II: 5.5GW) and Jamnagar (Phase-I: 1GW) – Part-C, on a BOOT basis, with quoted annual transmission charges of ₹430.67 crore. The project includes a new 765/400/220kV Alephata substation in Maharashtra, along with 765kV and 400kV transmission lines and associated equipment. With this win, POWERGRID has secured 9 TBCB projects in FY27 YTD, with cumulative annual transmission charges of ₹7,664.08 crore.

View: The win further strengthens POWERGRID’s TBCB pipeline and provides long-term regulated revenue visibility through the BOOT model. The ₹430.67 crore annual transmission charge takes cumulative FY27 TBCB awards to ₹7,664 crore, supporting sustained transmission capex and reinforcing POWERGRID’s positioning in the inter-state grid expansion opportunity.

Impact: Positive

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