(THE NEWSMAN OF INDIA.COM)
By Abul Hasan: As the power sector continues to evolve, 2024 marked a pivotal year for Power Grid Corporation of India Limited (POWERGRID), a Maharatna Public Sector Enterprise under the Ministry of Power. At the helm of this transformation is Ravindra Kumar Tyagi, who assumed the role of Chairman and Managing Director (CMD) on January 1, 2024. Tyagi, a stalwart with over 34 years of experience in the power sector, has propelled POWERGRID to new heights, reaffirming its contribution in India’s energy landscape and its commitment to innovation and growth.

A Year of Remarkable Achievements
Under Tyagi’s leadership, POWERGRID achieved significant milestones that highlight its critical role in strengthening India’s power infrastructure. In 2024 alone, the company added over 3,000 circuit kilometers (ckm) of transmission lines, commissioned four new substations, and increased transformation capacity by more than 28,000 MVA.

These commissioning majorly included 765kV D/c Fatehgarh II- Bhadla II, 765 kV D/c Bhadla II – Sikar II, 765kV D/c Sikar II- Aligarh, 400kV D/c Sikar II -Neemrana , Neemuch Substation, Sikar-II Substation and Navi Mumbai substation in Inter-State transmission network. Further, Mohanlalganj transmission system in UP was added under Intrastate network. With 400 kV Jamnagar – Jam Khambaliya(GIS) line, the year also marked the commissioning of first transmission system for a private client, built by POWERGRID on BOOM basis.

A momentous occasion arrived, when Prime Minister inaugurated/dedicated Transmission System Projects worth approx. ₹17,267 crore on 17th Dec’24. Wherein, he laid foundation stone for 06 projects (Bikaner-III, Bhadla-III, Sikar-Khetri, Beawar–Dausa, Ramgarh-II, Bhadla-III & Bikaner-III) and inaugurated 02 projects (Bhadla & Aligarh Sikar Transmission)

As of December 31, 2024, POWERGRID’s network encompassed 280 substations, 1,79,594 ckm of transmission lines, and a transformation capacity of 5,46,461 MVA. These assets form the backbone of India’s power transmission system, operating at an availability rate exceeding 99.8% and setting global benchmarks for reliability.

Pioneering Technology and Innovation
Technological advancement has been a hallmark of Tyagi’s tenure. POWERGRID partnered with IIT Kanpur to deploy India’s first all-terrain inspection robot, enhancing operational efficiency. Additionally, the company secured a patent for its PALMS software, an advanced asset management tool for transformers and reactors. Collaborative agreements with EPRI, USA, have paved the way to leverage the technical expertise of EPRI in developing state of the art, economical and sustainable power transmission system in India. These innovations exemplify POWERGRID’s drive to adopt cutting-edge solutions for sustainable growth.

Financial Excellence and Investor Confidence

POWERGRID’s financial performance in FY24 was stellar, with a total income of ₹45,913 crore and a profit of ₹15,573 crore. Investors reaped the rewards of this success, with a dividend of ₹11.25 per share, reflecting strong shareholder value creation. The company’s stock surged from around ₹240 in December 2023 to an all-time high of ₹366.25 in September 2024, which showcases growing investor confidence.

The future looks even more promising with POWERGRID having achieved commissioning of multiple assets and ongoing projects being fast tracked through innovation and use of technology. With this pace, POWERGRID is expected to exceed CAPEX of Rs 20,000 Crs in FY25 and appears strategically positioned for sustained growth.

Strategic Expansion and New Ventures

POWERGRID’s strategic focus on renewable energy integration has driven its success in securing 20 out of 38 projects under the Tariff-Based Competitive Bidding (TBCB) model in 2024, including India’s first HVDC project awarded through TBCB, with NCT cost of Rs 24,819 Crores. The company also entered joint venture with Rajasthan State Transmission Utility for intrastate transmission systems worth ₹10,000 crore.

In response to the rising demand for data centres, driven by GenAI, POWERGRID, through its subsidiary PTSL, is venturing into this high-growth sector. The pilot data centre in Manesar is nearing completion and expected to be operational in FY25. Moreover, PTSL is looking to further add Data centre capacity, with land acquisitions finalized for a larger facility in Chennai.

A Sustainable, Human-Centric Approach to Growth

Beyond infrastructure and technology, POWERGRID under R.K. Tyagi has placed a profound emphasis on creating a sustainable and inclusive future. The company is actively transitioning to environmentally friendly practices, including initiating tenders for SF6-free circuit breakers to minimize greenhouse gas emissions. These efforts signify a commitment to safeguarding the planet for future generations.

Inclusivity has been brought to the forefront through initiatives like “Pink Substations,” where operations are managed exclusively by women employees. This groundbreaking step is a milestone towards empowering women to break barriers in traditionally male-dominated fields.

On the social front, POWERGRID’s flagship “Vishram Sadan” program continues to touch lives. These accommodations, built near major medical institutes, provide a comfortable stay for patients and their families during difficult times. In July 2024, the Minister of Power inaugurated a 310- bedded Vishram Sadan at RIMS Ranchi, which is a part of an ambitious plan to offer over 3,400 beds nationwide. These projects show that POWERGRID’s growth is intertwined with the well-being of communities it serves.

Global Recognition and Awards
In 2024, POWERGRID became the world’s largest power transmission utility to receive ISO 55001:2014 certification for asset management. Recognitions such as the “Most Efficient and Profitable Maharatna of the Year (Non Manufacturing)”” by Dalal Street Investment Journal, ATD Best Award for Learning and Development and “Best Organizations for Women” by the Economic Times further underscore excellence of POWERGRID.

Visionary Leadership Driving the Energy Transition
R.K. Tyagi’s vision for POWERGRID has cemented the company’s role as a major enabler of India’s energy transition. Tyagi received Economic Times Energy Leadership Award 2024 award for his “Significant Contribution in Energy Sector,” acknowledging his leadership in advancing India’s energy infrastructure.His leadership has bolstered the company’s financial and operational performance and reinforced its commitment to innovation, sustainability, and inclusivity.

As India marches toward a greener, more resilient energy future, POWERGRID stands poised to lead the charge, fuelled by Tyagi’s strategic foresight and dedication.