POWERGRID wins new project, expands borrowing limits

POWERGRID has been declared the successful bidder for an Inter-State Transmission System project under Tariff Based Competitive Bidding (TBCB). This new project involves strengthening the transmission system at Davanagere to integrate RE generation on a Build, Own, Operate, and Transfer (BOOT) basis. The Letter of Intent was received on August 27, 2025.

The company also announced the successful passing of all 14 resolutions at its 36th Annual General Meeting (AGM), held on August 26, 2025. Key approvals included the adoption of audited financial statements for the fiscal year ended March 31, 2025, confirmation of interim dividends, and declaration of the final dividend for 2024-25. The re-appointment of directors Dr. Yatindra Dwivedi and Shri Naveen Srivastava, and the appointment of several new directors, were also approved.

Significant financial decisions from the AGM include the authorization for the Board of Directors to fix the remuneration of statutory auditors for 2025-26 and the ratification of cost auditors' remuneration. Shareholders also approved increasing the borrowing limit from INR 16,000 Crore to INR 25,000 Crore for the fiscal year 2025-26 and the ability to raise up to INR 30,000 Crore through various debt instruments for 2026-27.