Powergrid approves Rs 8.85 billion investment in two projects

Power Grid Corporation of India Limited’s (Powergrid) board has approved investments aggregating Rs 8.85 billion in two projects. Of this, Rs 8.09 billion is for the strengthening of transmission systems for the transfer of power from the Mangdechhu hydroelectric project (HEP) in Bhutan to India. Powergrid aims to commission the transmission line associated within 22 months, which corresponds to the commissioning of Unit 1 of the HEP. Further, an investment of Rs 764.8 million has been approved for augmenting the transformer capacity at Mainpuri, Uttar Pradesh, and Sikar, Rajasthan. The additional capacity will be commissioned in 24 months from the start of the project. In addition, the board has also accorded approval for transfer of the entire equity held by Powergrid in Power System Operation Corporation Limited to the central government at an agreed purchase consideration.

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