The project will be developed on a build, own, operate and transfer (BOOT) basis. The company received the letter of intent (LoI) for the project on 27 August 2025.

Power Grid Corporation of India Limited is a Maharatna CPSU and India’s largest electric power transmission company. GoI holds a 51.34% stake in the company as on March 31, 2021. PGCIL was incorporated in 1989 to set up extra-high voltage alternating current and high-voltage direct current (HVDC) transmission lines.

The company reported a 2.5% drop in consolidated net profit to Rs 3,630.58 crore, while revenue from operations rose 1.7% to Rs 11,196.22 crore in Q1 FY26 over Q1 FY25.

Shares of Power Grid Corporation of India fell 1.25% to Rs 276.30 on the BSE.