Power Grid Corp shares rise nearly 2% on emerging as successful bidder for 2,000 MWH battery storage project

Intra-day, the stock gained as much as 1.67% to a high of ₹264.70 per equity share on the National Stock Exchange (NSE) on Wednesday. As of 10:47 am, the scrip was trading 1.59% higher at ₹264.50 per unit.

The share has lost over 2% in the past week and nearly 3% over the month. On a year-to-date basis, it has slipped approximately 16%.

While the stock reached a 52-week high of ₹322 on April 21, 2025, it touched a year’s low of ₹247.30 apiece on February 28, 2025.

The company emerged as the successful bidder in the bidding process to establish a project, namely “selection of battery energy storage developers for setting up of cumulative capacity of 2,000 MWh (1,000 MW x 2 hrs.) Standalone Battery Energy Storage System in the selected substations of APTRANSCO, Andhra Pradesh, for 'on demand' usage under tariff-based competitive bidding with viability gap funding supported through PSDF, under the build-own-operate (BOO) model-battery energy storage system project at 400/220kV SS Kalikiri in Chittoor District for a Capacity of 150 MW/300MWh.”

The project comprises a 150 MW/300 MWh battery energy storage system at 400/220kV SS Kalikiri in Chittoor District, Andhra Pradesh, it said in a regulatory filing.

The firm received a letter of award (LoA) for the same on December 29.

Power Grid to raise up to ₹3,800 crore via bonds

In a filing on November 17, the company stated that its committee of directors approved a proposal to raise up to ₹3,800 crore through the issuance of bonds on a private placement basis.

The base issue size will be ₹1,000 crore with a green shoe option of ₹2,800 crore, it added.

Bonds are redeemable at par in 10 equal annual installments, with interest payments on a yearly basis.

Earlier, the Power Grid board had approved raising funds of up to ₹6,000 crore through an unsecured rupee term loan or line of credit (bank facility) from the State Bank of India (SBI).

Power Grid has a total market capitalisation of ₹2.44 lakh crore, as of December 31, 2025, according to data on the NSE.