The company has been awarded the 'Installation of 2 Nos. of Synchronous Condenser (SynCon) units at 765/400/220kV Fatehgarh-II PS' project under the tariff-based competitive bidding (TBCB) route on a build, own, operate and transfer (BOOT) basis. POWERGRID received the letter of intent (LoI) for the project on 17 July 2026. The project comprises the installation and commissioning of two synchronous condenser (SynCon) units at the 765/400/220 kV Fatehgarh-II pooling station, along with associated bays.

Power Grid Corporation of India is a Maharatna CPSU and India's largest electric power transmission company. The company had reported a 9.7% YoY rise in consolidated net profit to Rs 4,546.33 crore in Q4 FY26, compared with Rs 4,142.87 crore in Q4 FY25. Revenue from operations declined 5% YoY to Rs 11,665.61 crore in the quarter ended 31 March 2026.