NEW DELHI: Power Grid Corporation will invest Rs 1,931.39 crore to set up high voltage direct current (HVDC) bipole link between western and southern regions.
The Power Grid board in its meeting on Wednesday approved investment for HVDC Bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) —North Trichur (Kerala) at an estimated cost of Rs 1,931.39 crore with commissioning schedule of 30 months from the date of approval, the company said in a BSE filing.
The power transfer capacity to the southern region will be enhanced progressively to about 17,000 mega-watt (MW) by 2019-20, Piyush Goyal, minister of state (independent charge) for power, coal and new & renewable energy, stated last year after the project was approved.
The minister also informed that various new links have been taken up for implementation to enhance power transfer capacity to the southern region of the country with an estimated cost of Rs 38,000 crore.
The new link includes 6,000 Mw, ±800kV HVDC Bipole system between Raigarh (western region) and Pugalur (southern region).
The board also approved raising of rupee term loan (facility) of up to Rs 3,270 crore from private-sector lender ICICI Bank at three-month MCLR (currently 7.9 per annum) with the reset every three months from the date of first disbursement. The loan shall be drawn according to the requirements of Power Grid within five years from the date of first disbursement.