The company would make the issue under private placement in up to twenty tranches or offers. The portion of the borrowed money would also be used to provide loans to its subsidiaries.
Power Grid Corporation of India Ltd, the state owned electric power transmission utility, plans to raise funds up to Rs 20,000 crore from domestic market by issuing bonds or debentures to select investors to part fund its capital expenditure in the next financial year, 2018-19.
The company would make the issue under private placement in up to twenty tranches or offers. The portion of the borrowed money would also be used to provide loans to its subsidiaries.
As declared in the 28th Annual General Meeting, the company achieved a capital expenditure of Rs 24,429 crore against the target of Rs 23,000 crore. Starting from April 2017; the company has a program of capital expenditure of about Rs 90,000 crore in the next 3-4 years for augmenting transmission and associated infrastructure in the country and for cross border inter connections.
Highlighting grid integration related issues of renewable, the company stated to implement smart transmission solutions like Wide Area Measurement Systems (WAMS) through installation of 1400 Phasor Measurement Units (PMUs) integrating all state and central grids.
“A high capacity Green Energy Corridor viz Mundra- Bhuj- Banaskantha- Chittorgarh- Ajmer- Bikaner- Moga and Tirunelvelli- Tuticorin are under implementation by the company at an estimated cost of Rs 11,400 crore. The project has also received concessional foreign currency loan assistance from KfW, Germany and Asian Development Bank,” said IS Jha, CMD, Power Grid.
Enthused by the market potential for electric vehicles charging opportunity, the company is exploring to set up charging infrastructure including deployment of large scale utility grade battery charging facilities, which will support the grid integration of renewable.
“The company is also exploring viable energy storage solutions such as batteries that would help in maintaining grid stability and provide much needed balance for controlling variability of the renewable generation in the grid,” said the CMD.
Source: businessworld.in
