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POWERGRID has emerged as the successful bidder under TBCB

ICICIdirect Research 19 Oct 2026 DISCLAIMER

News: POWERGRID has emerged as the successful bidder under TBCB for the 765kV GIS Pune West transmission project in Maharashtra, with quoted annual transmission charges of ₹199.55 crore. The project involves setting up a new 765/400kV GIS substation and constructing associated 765kV and 400kV transmission lines and bays. With this, POWERGRID has secured 10 TBCB transmission projects in FY27 so far, with cumulative annual transmission charges of ₹7,863.63 crore.

View:  The project strengthens POWERGRID’s presence in Maharashtra’s transmission network and provides long-term regulated revenue visibility through annual transmission charges. The cumulative ₹7,863.63 crore annual charges from FY27 TBCB wins underline a strong project pipeline, with execution and timely commissioning remaining key to revenue realisation.

Impact: Positive

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