Power Grid shares in focus after winning 2,000 MWh battery energy storage project

Shares of Power Grid Corporation of India (Powergrid) will be in focus on Wednesday, December 31, after the company was declared the successful bidder for a major battery energy storage project with a cumulative capacity of 2,000 MWh.

The project was awarded under Tariff-Based Competitive Bidding for setting up a standalone Battery Energy Storage System (BESS) in the sub-stations of APTRANSCO, Andhra Pradesh, for ‘on demand’ usage.

“In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform that Power Grid Corporation of India Limited (“POWERGRID”) has been declared as successful bidder under Tariff Based Competitive Bidding to establish the project namely “Selection of Battery Energy Storage Developers for setting up of cumulative capacity of 2,000 MWh (1,000 MW x 2 hrs.),” the company informed via a filing to the stock exchanges.


The company informed that it received the Letter of Award (LoA) on December 29.

The awarded project will follow the Build-Own-Operate (BOO) model and is supported through Viability Gap Funding under the Power System Development Fund (PSDF). Specifically, the project involves developing a 150 MW / 300 MWh BESS at the 400/220 kV SS Kalikiri substation located in Chittoor district, Andhra Pradesh.

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Power Grid share price history

Over the past year, the shares of Power Grid have declined by 15.58%, reflecting a steady downtrend in its performance. The year-to-date (YTD) return also shows a significant loss of 16.17%, underlining persistent weakness through the calendar year.

In the last six months, the stock has declined 13.18%, while over three months, it has fallen by 7.07%. Even on a shorter horizon, the stock is down 3.56% in the past month, continuing to struggle across durations.

The shares of Power Grid closed flat at Rs 260.30 on the BSE.

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