GE Vernova T&D India Stock Jumps on HVDC Project Update
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GE Vernova T&D India shares rose around 8% on September 8 after the company emerged as the L1 bidder for a 6,000 MW HVDC project from Power Grid Corporation of India Limited (POWERGRID).
The project involves two 3,000 MW, ±800 kV LCC HVDC terminal stations to transmit renewable power from Barmer-II in Rajasthan to South Kalamb in Maharashtra.
GE Vernova T&D India received a letter from POWERGRID on September 7 confirming its L1 status. The company would be responsible for the design, equipment supply and execution of the project.
The project value has not been disclosed.
The development follows POWERGRID’s selection as developer of the transmission system earlier in September. GE Vernova T&D India’s shares reached about $49.8 ₹4,708 during trading on September 8, reflecting investor interest in the reported project opportunity.
Source: business-standard.com
