The project will be executed on a Build, Own, Operate, and Transfer (BOOT) basis, with the Letter of Intent (LoI) received on March 6, 2025. It includes key developments such as the augmentation of transformation capacity at the existing Kurnool-III substation, expansion works at the C’peta substation, and the installation of a 765kV double-circuit transmission line. The entire project scope falls within the state of Andhra Pradesh.

This initiative aims to enhance the transmission infrastructure necessary to support increased renewable energy capacity in the region. By strengthening the grid at Kurnool-III, POWERGRID will help improve the reliability and efficiency of power transmission, facilitating the integration of renewable energy sources into the national grid.

Meanwhile, POWERGRID reported a 4.1 per cent year-on-year decline in net profit for the third quarter ending December 31, 2024. The company's net profit stood at Rs 38.61 billion, compared to Rs 40.28 billion in the corresponding quarter of the previous fiscal year. Revenue from operations also saw a 3 per cent decline, amounting to Rs 112.33 billion, down from Rs 115.79 billion in the same period last year. These financial results fell slightly below market expectations, as per CNBC-TV18 estimates.

Despite the dip in financial performance, POWERGRID continues to expand its infrastructure portfolio, reinforcing its role in India’s power transmission sector. The latest project at Kurnool-III is expected to strengthen the renewable energy grid and contribute to India's clean energy goals.

News source: CNBC TV18