Powergrid Commissions 85 MW Solar Plant In Madhya Pradesh

Power Grid Corporation of India Ltd (POWERGRID) has commissioned an 85 MW solar photovoltaic power plant at Nagda in Ujjain, Madhya Pradesh, the company said in a regulatory filing. The project was developed through its subsidiary, POWERGRID Energy Services Limited, and was declared commercially operational on April 24, 2025. With a target of 50% of internal use of energy from renewable fuel sources by the end of this year, it should certainly be interesting to see how far PowerGrid reaches on this by the year end,

POWERGRID Quarterly Results 

In its latest quarterly update, POWERGRID said its capital expenditure (CapEx) target for the financial year 2024–25 stands at ₹23,000 crore. The plan includes ₹3,914 crore for Regulated Tariff Mechanism (RTM) projects, ₹14,209 crore for tariff-based competitive bidding (TBCB) projects, and ₹4,877 crore for other works.

As of January 31, 2025, the company had incurred CapEx of ₹19,480 crore and achieved capitalisation of ₹7,906 crore. POWERGRID said it is targeting 50% renewable energy consumption by 2025 and is partnering with various states to procure green power through green tariffs for its substations.

The company also reported that its current transmission project portfolio is valued at ₹1,43,749 crore. On the day of its quarterly disclosure, POWERGRID said it secured an additional ₹3,500 crore transmission project in Karnataka, taking its total works-in-hand to about ₹1,47,000 crore. The portfolio includes RTM and TBCB projects, as well as ongoing metering and solar generation initiatives.

Separately, in its unaudited financial results for the quarter and nine months ended December 31, 2024, POWERGRID reported a consolidated profit after tax (PAT) of ₹3,862 crore and a total income of ₹11,743 crore in the third quarter of FY25. On a standalone basis, PAT stood at ₹3,894 crore and total income at ₹11,609 crore during the same quarter.

For the nine months of FY25 (9MFY25), the company posted a consolidated PAT of ₹11,379 crore and total income of ₹34,869 crore, compared to ₹11,407 crore and ₹34,608 crore, respectively, in the same period of FY24. On a standalone basis, PAT for 9MFY25 was ₹11,017 crore and total income ₹33,843 crore, compared to ₹11,347 crore (including discontinued operations) and ₹33,562 crore in the corresponding period of the previous year.