Power Grid board approves Rs 389 Cr investment proposals

Power Grid Corp seeks shareholders' approval for Rs 12,000 Cr raise 2024-25

Power Grid’s Board Approves INR 389 Crore Investment Proposals

Power Grid Corporation of India Limited (PGCIL), a state-owned company, announced on Wednesday, June 28, that its board has given the green light to three investment proposals amounting to INR 389 crore. In an official filing with the stock exchange, the company disclosed the details of these proposals.

The first investment proposal involves modifying the scope of work for the creation of a dedicated telecom network for the National Transmission Asset Management Centre (NTAMC). The estimated cost for this modification is INR 164.38 crore.

The second proposal pertains to the expansion of the western region under the scheme called WRES-XXXIII, Part A. The estimated cost for this project is INR 115.09 crore, and it is scheduled to be completed by August 15, 2024.

The third proposal focuses on the augmentation of information and communication technology (ICT) at Navsari. This augmentation is associated with the integration of an additional 7 GW renewable energy (RE) power from Khavda RE Park Phase-III. The estimated cost for this project is INR 109.47 crore.

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The ICT augmentation at Navsari is expected to be commissioned around the same time as the transmission system for the evacuation of an additional 7 GW RE power from Khavda RE Park Phase-III, Part-B. The anticipated completion date for this project is October 22, 2025, according to the company.

At the close of trading, shares of Power Grid Corporation of India Ltd stood at INR 250.15 on the BSE, reflecting an increase of INR 1.75 or 0.70 percent.

About Power Grid:

The Power Grid Corporation of India Limited is an Indian government-owned central public sector undertaking that falls under the Ministry of Power, Government of India. Its primary focus is on the transmission of large-scale power across various states in India. The company’s headquarters are located in Gurugram.

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