This study addresses critical risk factors in high-voltage power transmission line (HVPTL) construction projects, which are vital components of national energy infrastructure. HVPTL projects are essential for meeting energy needs but are often plagued by risks due to their linear construction nature, leading to project underperformance. However, the lack of attention to risk management often leads to project underperformance. This research aims to identify and rank these risks to facilitate effective risk management. Through literature review and preliminary surveys, 63 risk elements were identified under 14 main categories. These risks were ranked using two rounds of Delphi surveys and the analytical hierarchy process (AHP). The study focuses on a Sri Lankan HVPTL project. The most critical risk factors identified include “improper planning by the main contractor”, “delays in decision-making by the client/consultant”, “errors in initial costing”, and “inaccuracies in survey data”, with AHP analysis assigning significant weights of 43.9%, 18%, 16%, and 14.9% to these factors, respectively. Comparative analysis with similar studies reveals consistent findings, underscoring the importance of addressing delays in approvals, material unavailability, and construction-quality challenges. These results emphasize the necessity of adopting systematic risk-management techniques in HVPTL projects to mitigate uncertainties and enhance project outcomes.