Power Grid Corporation of India Limited (POWERGRID), the Maharatna central public sector enterprise under the Ministry of Power, has been declared the successful bidder under Tariff Based Competitive Bidding (TBCB) for the intra-state transmission project titled “Establishment of 765kV GIS Pune West (District – Pune)” in Maharashtra. The company received the Letter of Intent (LoI) on 16 October 2026 and disclosed the award to the National Stock Exchange of India and BSE the same day under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
POWERGRID secured the project at quoted annual transmission charges of ₹199.55 crore and will develop it on a Build, Own, Operate and Transfer (BOOT) basis. With this award, the company has won ten transmission projects through TBCB so far in FY 2026-27, carrying cumulative annual transmission charges of ₹7,863.63 crore.
Project Scope
The core of the project is a new 765/400 kV Gas Insulated Substation (GIS) at Pune West. As per the project details issued at the bidding stage, the substation will be equipped with two 1,500 MVA interconnecting transformers and a 240 MVAR bus reactor.
To connect the substation to the extra-high-voltage backbone, both circuits of the existing 765 kV double-circuit line between Pune-III and South Kalamb will be looped in and looped out (LILO) at Pune West. On the 400 kV side, a new double-circuit line will run from Pune West to Hinjewadi using Quad Moose conductor. The scope also covers the associated bays.
The choice of GIS technology is significant for western Pune, where land availability is limited. Gas-insulated equipment needs a much smaller footprint than a conventional air-insulated switchyard, allowing high-capacity transformation to be built closer to dense urban and commercial load centres.
Why the Project Matters
The Pune West system has been planned to strengthen power supply to existing information technology companies and upcoming data centre consumers in the area, whose demand has been estimated at around 1,000 MVA. Hinjewadi, the end point of the new 400 kV line, is one of Maharashtra’s largest IT clusters, and electricity demand in the surrounding belt has been rising steadily with the growth of commercial and digital infrastructure.
The project will also strengthen the interconnection between Maharashtra’s inter-state and intra-state transmission networks. By tapping the 765 kV Pune-III–South Kalamb corridor, the new substation creates an additional 765/400 kV injection point through which bulk power from the wider grid can be delivered into the state’s 400 kV network serving the Pune region.
Bidding Process
PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), acted as the Bid Process Coordinator for selection of the Transmission Service Provider. On 8 May 2026, PFC informed the stock exchanges that Pune West Power Transmission Limited had been incorporated as a wholly owned subsidiary of PFCCL to serve as the special purpose vehicle (SPV) for the project. Under the Ministry of Power’s TBCB guidelines, such an SPV carries out preparatory work, including surveys, report preparation and initiation of land acquisition and forest clearance processes, before being handed over to the winning bidder.
Three companies, namely POWERGRID, Adani Energy Solutions Limited and Resonia Limited, qualified for the final stage of the process. Following the LoI, the SPV will be transferred to POWERGRID, which will then be responsible for financing, designing, procuring, constructing, commissioning, operating and maintaining the system. The project is scheduled for commissioning within 24 months of the effective date of the Transmission Service Agreement. At the end of the concession period, all project assets will be transferred to the Maharashtra State Transmission Utility at zero cost.
POWERGRID’s Growing Presence in Maharashtra
Pune West is POWERGRID’s second intra-state TBCB win in Maharashtra this year. On 11 February 2026, the company received the LoI for the “Network Expansion scheme in Maharashtra for removal of Transmission constraints in Pune Region-I (765/400 kV AIS Pune East)”, which includes an air-insulated substation in Ahilyanagar district along with 765 kV and 400 kV lines and bay extension works. PFC subsequently reported that the SPV for that project, NES Pune East New Transmission Limited, was transferred to POWERGRID on 12 March 2026.
Together, the Pune East and Pune West schemes mark the company’s expanding role in the state transmission segment, which has traditionally been developed by state utilities. Both projects target the same objective of removing constraints and adding capacity in the Pune region, one of the state’s most important industrial and commercial centres.
The award also adds to POWERGRID’s pipeline at a time when transmission capacity is being expanded rapidly to keep pace with demand growth and renewable energy integration across the country. As of 30 June 2026, the company’s network comprised 1,86,595 circuit kilometres of transmission lines, according to its investor presentation filed with the stock exchanges in August 2026.
Next Steps
With the LoI in hand, the next steps include acquisition of the SPV, signing of the Transmission Service Agreement and adoption of the tariff by the appropriate Electricity Regulatory Commission, followed by project execution. Once commissioned, the Pune West substation is expected to provide a reliable, high-capacity supply point for one of India’s fastest-growing technology and data centre hubs, while adding redundancy and flexibility to Maharashtra’s transmission network.
Official Sources
- National Stock Exchange of India – POWERGRID corporate announcements (Regulation 30 disclosure on LoI for 765kV GIS Pune West, 16 October 2026): https://www.nseindia.com/get-quote/equity/POWERGRID/Power-Grid-Corporation-of-India-Limited
- Power Grid Corporation of India Limited – Official website: https://www.powergrid.in/
- POWERGRID – Regulation 30 disclosure on LoI for Pune Region-I (765/400 kV AIS Pune East), 11 February 2026 (NSE): https://nsearchives.nseindia.com/corporate/POWERGRID1_11022026221954_BSENSEReg30LOIdt11022026.pdf
- Power Finance Corporation – Disclosure on transfer of NES Pune East New Transmission Limited to POWERGRID, 13 March 2026 (NSE): https://nsearchives.nseindia.com/corporate/PFC2023_13032026125103_intimation13032026_signed.pdf
- POWERGRID – Investor & Analyst presentation, 7 August 2026 (NSE): https://nsearchives.nseindia.com/corporate/POWERGRID1_07082026104951_NSEBSE.pdf
- Power Finance Corporation – Corporate announcements (incorporation of Pune West Power Transmission Limited, 8 May 2026): https://www.nseindia.com/get-quote/equity/PFC/Power-Finance-Corporation-Limited
- PFC Consulting Limited – Official website: https://www.pfcclindia.com/
- Ministry of Power, Government of India: https://powermin.gov.in/
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