POWERGRID: Leading Energy Transition for a sustainable future
by Prashant Kapadia/NHN
National, July 29th 2024: Power Grid Corporation of India Limited (POWERGRID) is a Schedule ‘A’, ‘Maharatna’ Public Sector Enterprise under Ministry of Power with 51.34% holding of Government of India. POWERGRID has announced its quarterly financial results on 26/07/2024 wherein on standalone basis company has reported PAT of ₹ 3,724 crore and Total Income of ₹11,280 crore registering a YoY growth of 3.52% and 0.20% respectively. On consolidated basis, company has reported PAT of ₹ 3,412 crore and Total Income of ₹ 10,850 crore.
During Q1FY25, the Company incurred a Capital Expenditure of ₹ 4,615 crore and capitalized assets worth ₹ 2,320 crore (excluding FERV) on consolidated basis. POWERGRID’s Gross Fixed Assets on consolidated basis stood at ₹ 2,77,213 crore as on June 30, 2024. Further, POWERGRID has a capex plan of ₹ 18,000 crore for FY 2024-25 and is planning to enhance the annual capex to about ₹ 20,000 crores for next two financial years.
The company has a capex outlook of more than ₹ 2 Lakh crore by FY 2032. The total work in hand of the company is above ₹ 1,14,000 crore which is significantly boosted by healthy success rate in ongoing Tariff based competitive bidding of ISTS projects. During FY25, under Tariff based competitive bidding, POWERGRID was successful bidder in 06 ISTS TBCB projects with an estimated NCT cost of approx. ₹ 24,855 crore. At the end of Q1FY25, the total transmission assets of POWERGRID and its subsidiaries stood at 1,77,790 ckm of transmission lines, 278 substations strategically placed across the country and 5,28,761 MVA of transformation capacity.
POWERGRID maintained average transmission system availability of 99.80% during Q1FY25. POWERGRID has embarked on a remarkable journey of value creation in the Indian power sector. POWERGRID, have played an instrumental role in realizing the nation’s vision of One Nation One Grid One Frequency which has led to the synchronization of all distributed regional grids.
The company is playing a pivotal role in the country’s energy transition journey by large scale integration of renewable energy sources into the National Grid. In line with this, POWERGRID has been entrusted with execution of inter-state transmission system for 13 GW RE project in Ladakh by GoI. The estimated cost of the project is about ₹ 23,000 crore and is expected to be completed by 2030. This project would be first of its kind in the World involving implementation of the project at an altitude of up to 4700 m and temperatures as low as -45oC, low air density & low oxygen content.
POWERGRID is driving the transition towards a cleaner, more sustainable energy ecosystem. It has committed to achieve net zero by 2047, water positive by 2030, and zero waste to landfill by 2030. Further, it has invested in R&D, ranging from energy-efficient technologies to automation. Collaborations with leading academic institutions further enhance POWERGRID’s capabilities in areas such as asset management and cybersecurity.
POWERGRID is not just a transmission utility; it is the lifeline that connects aspirations to achievements, powering progress across the nation. Today, the country boasts the world’s largest integrated synchronous grid, where power flows seamlessly from areas with surplus to those in need