Power Grid Corporation gets board approval for Rs 367 crore investment

23 Nov 2023 , 09:27 AM

The board of the state-owned Power Grid Corporation approved a proposal to invest Rs 367 crore in power transmission projects on Wednesday. The Power Grid’s Committee of Directors on Investment on Projects’ meeting on November 22, 2023, granted investment permission for two projects, according to a BSE filing.

According to the filing, the first project approved is an increase in transformation capacity by 1X1500 MVA (3rd), 765/400 KV ICT at the Maheshwaram (PG) substation in Telangana at a cost of Rs 142.69 crore.

It is expected to be operational within 21 months upon receiving notification from CTUIL (Central Transmission Utility) on July 10, 2023 – by April 9, 2025.

The board also approved the Transmission System for Evacuation of Power from the Potential RE Zone in the Khavda Area of Gujarat under phase IV (7GW)- Part E4 at an estimated cost of Rs 224.41 crore, with a completion date of July 9, 2025, 24 months from the date of intimation by CTUIL letter on July 10, 2023.

At around 9.23 AM, Power Grid Corporation was trading 0.47% higher at Rs 212.60, against the previous close of Rs 211.60 on NSE. The counter rose to an intraday high of Rs 213.10.

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