Power Grid approves ₹4,071 crore transmission projects
1 min read . Updated: 07 Mar 2023, 08:09 PM IST
Premium- The company recently announced the approval of two new investment projects that will drive renewable energy development in the country
MUMBAI : Power Grid Corporation of India Ltd has approved two transmission projects worth ₹4,070.98 crore.
The company recently announced the approval of these two new investment projects that will drive renewable energy development in the country.
The first project, Eastern Region Expansion Scheme-XXIX, with an estimated cost of ₹524.04 crore, is set to be commissioned by November 2025. The second project, the transmission system for Kurnool Wind Energy Zone/Solar Energy Zone in Andhra Pradesh, is divided into two parts, Part-A and Part-B, with an estimated cost of Rs. 3546.94 crore. This project is expected to be commissioned by November 2024, according to an exchange filing.
The company said its investment in the two transmission projects is a significant milestone towards achieving a sustainable energy system in India. By building cutting-edge transmission infrastructure, Power Grid Corporation of India Ltd is enabling the country to transition towards renewable energy, reducing carbon emissions, and driving economic growth, it said.
On 3 March, Power Grid Corporation of India Ltd was declared the successful bidder under Tariff Based Competitive Bidding to establish two new Inter-State Transmission Systems on a Build, Own, Operate and Transfer (BOOT) basis.
On Monday, share of Power Grid ended 2.32% higher at 227.25 apiece on the NSE.