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Power transmission projects worth nearly ₹5 trillion are currently under bidding or execution across India, according to a senior official from the ministry of power.
This large pipeline comes at a time when transmission infrastructure has emerged as a bottleneck in expanding renewable energy capacity and meeting the country’s rapidly rising power demand.
To achieve 500 GW of non-fossil fuel capacity by 2030, the government has planned significant transmission expansion.
In FY26, transmission projects worth ₹1 trillion cleared the National Committee on Transmission stage, while projects worth ₹1.47 trillion progressed beyond the special purpose vehicle stage.
The government’s broader objective is to build a next-generation, intelligent and integrated national grid capable of supporting renewable energy, storage solutions, green hydrogen, and emerging demand centres such as data hubs.
With power transmission emerging as a major investment theme, the sector is attracting investor interest.
Here are a few companies with strong order pipelines to track.
According to the business update Investor and analyst interaction on 23 March 2026, the company has a strong, visible execution pipeline of over ₹1.48 trillion.
Assuming a 50% win rate on a ₹15 trillion opportunity, the company estimates potential project wins of around ₹7.5 trillion over the coming decades, resulting in an illustrative long-term execution pipeline of over ₹9 trillion.
Power Grid, a Maharatna central public sector enterprise under the ministry of power, is primarily engaged in the transmission of electricity through its EHVAC (extra high voltage alternating current) and HVDC (high voltage direct current) transmission networks.
The company owns and operates approximately 84% of India's inter-state transmission system (ISTS) network, making it one of the largest transmission utilities globally.
Power Grid operates one of the world’s largest 765 kV transmission networks, reinforcing its leadership in high-capacity power transmission infrastructure.
Going forward, the company has planned a capital expenditure of around ₹820 bn for FY27–FY28.
Tata Power has a diversified power portfolio with a total capacity of 26,346 MW as of Q3 FY25, including 16,310 MW operational capacity.
The company also has a growing transmission footprint, with 4,738 circuit kilometres (ckm) of operational transmission lines and 2,573 ckm under construction, indicating expansion in its transmission network.
While the overall order book for transmission businesses was not disclosed as of Q3 FY26, the company reported an order book of ₹1170 crore for its third-party rooftop solar segment.
Tata Power is India’s largest vertically integrated power company, with a well-established presence across renewable, thermal and hydro generation, transmission, energy trading, distribution, and next-generation energy solutions.
Going forward, it plans to significantly expand its clean energy portfolio, targeting at least 70% of its overall capacity from clean and green sources by 2030.
In the long term, the company also aims to transition away from its thermal portfolio by 2045 as power purchase agreements (PPAs) for its thermal capacities gradually expire, aligning with its sustainability and energy transition strategy.
As per the Q3 investor presentation, the company continues to maintain a strong execution pipeline across renewable energy and transmission segments, despite not disclosing a consolidated order book value.
Torrent Power plans to expand its renewable portfolio to around 5.95 GW, supported by approximately 4.3 GW of projects under installation across solar, wind, and hybrid segments, with a total estimated project cost of around ₹27,880 crore.
In addition, the company is developing a 3 GW pumped storage hydro project in Maharashtra, with an estimated investment of around ₹14,000 crore and commissioning targeted by October 2028, further strengthening its long-term clean energy strategy.
On the transmission front, Torrent Power has secured key projects, including a 400 kV transmission line for evacuation of 4.5 GW renewable energy in Khavda, Gujarat, along with the Solapur transmission project for evacuation of 1,500 MW of renewable power.
Torrent Power is one of the leading private sector integrated power utilities in India, with presence across generation, transmission, and distribution.
The company is also known for maintaining low distribution losses and efficient operations. It operates a diversified portfolio of coal-based, gas-based, and renewable power plants.
Investing in power transmission stocks with strong order pipelines can offer long-term growth visibility, as these companies benefit from multi-year infrastructure projects and regulated returns.
With India’s rapid renewable energy expansion and rising electricity demand, transmission infrastructure has become a key bottleneck, creating sustained opportunities for companies with strong execution pipelines.
Additionally, renewable capacity is expanding faster than transmission infrastructure, which is increasing demand for new transmission lines and grid upgrades.
However, investors should also consider risks such as execution delays, regulatory changes, and capital-intensive business models. They should also carefully evaluate these companies' fundamentals, corporate governance, and valuations as key factors when conducting due diligence before making investment decisions.
Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such.
This article is syndicated from Equitymaster.com