Equipment supply constraints for transformers and GIS
Management acknowledged that transformers, reactors, and GIS are in tight supply, with costs rising 70-80% since 2017-18, potentially delaying projects.
POWERGRID / Q1-FY25 / risks
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Material risks this quarter
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Cost overruns on first-of-its-kind offshore wind projects
The offshore wind evacuation projects (INR 13,100 crore total) are India's first, and management noted costs may be higher than routine projects, posing execution risk.
Dividend dependency on SPVs impacting standalone profits
Analyst noted flattish standalone PAT due to lower dividends from SPVs; management confirmed this but said consolidated view is more relevant going forward.
Green hydrogen transmission capacity not yet in NEP
Management could not confirm if the 125 GW RE requirement for green hydrogen is included in the National Electricity Plan, indicating potential policy uncertainty.