POWERGRID Secures Davanagere Transmission Project for Renewable Integration

Power Grid Corporation of India Ltd. (POWERGRID) has been declared the successful bidder to establish an Inter-State Transmission System (ISTS) for renewable energy integration in Karnataka.

The project, awarded under the Tariff Based Competitive Bidding (TBCB) mechanism, involves strengthening transmission infrastructure at the under-construction Davanagere pooling station. POWERGRID received the Letter of Intent (LoI) on August 27, 2025.

The system will be developed on a Build, Own, Operate and Transfer (BOOT) basis and is expected to enhance renewable power evacuation and integration from the region.

POWERGRID, a Maharatna CPSU and India’s largest power transmission utility, was incorporated in 1989 to establish extra-high voltage AC and HVDC transmission networks. The Government of India holds a 51.34 percent stake in the company as of March 31, 2021.

In Q1 FY26, the company reported a 2.5 percent decline in consolidated net profit to INR 3,630.58 crore, while revenue from operations rose 1.7 percent year-on-year to INR 11,196.22 crore.