The company informed that the net proceeds from the offer will be utilised towards providing loans to the initial portfolio assets for repayment or pre-payment of debt, including any accrued interest, and for general purposes The initial public offering (IPO) of PowerGrid Infrastructure Investment Trust, owned by state-run Power Grid Corporation of India, will open […]
Power Grid may launch landmark Rs 7,700 crore InvIT IPO on April 29, first ever by a PSU in India
The move comes at a time when the government has set a disinvestment target of Rs 1.75 lakh crore for FY22 and is betting big on initial public offerings (IPOs) by Life Insurance Corporation and Air India IPOs. Electricity transmission company Power Grid Corporation of India is preparing to launch the first ever InvIT (infrastructure […]
Power Grid third quarter net profit up 26 per cent at Rs 3,368 crore
Total income rose to Rs 10,359.48 crore in the quarter from Rs 9,541.13 crore in the same period a year ago. New Delhi: Power Grid Corporation on Thursday posted 26 per cent rise in consolidated net profit at Rs 3,367.71 crore for December quarter 2020-21 mainly on the back of higher revenues. The net profit […]
Union Budget 2021 | Power Grid InvIT to get power transmission assets of Rs 7,000 crore
Finance Minister Nirmala Sitharaman, while reading out the Union Budget 2021-22, stated that the Centre will also provide Rs 2 lakh crore to states and autonomous bodies for capex. Union Finance Minister Nirmala Sitharaman, while reading out the Union Budget 2021-22 on February 1, announced that power transmission assets of Rs 7,000 crore would be […]
Power Grid declared as successful bidder for two transmission projects in Rajasthan
Power Grid Corporation of India has been declared as the successful bidder under Tariff based competitive bidding to establish following transmission systems for: Transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under phase II – Part A on build, own operate and maintain (BOOM) basis. The Letter […]
Australia flags caps to renewable energy connections in overhaul of power grid
In a report published on Tuesday, regulators flagged plans for new caps to renewable connections to its power grid in a bid to reduce risks associated with network congestion amid the rapid growth of weather-dependent renewable power SYDNEY : Australia is seeking to overhaul its power grid to improve its stability as the fast uptake […]
Greece’s PPC to spend 3.4 bln euro on power grid, renewables by 2023
ATHENS, Dec 2 : Greece’s biggest power utility Public Power Corp. (PPC) will spend 3.4 billion euros ($4.11 billion) to expand its footprint in renewables and modernise the country’s distribution grid, it said on Wednesday. The coal-reliant utility, which is 51% owned by the state, has pledged to shut down all but one of its […]
India to link power grid with Middle East, SEA to export excess electricity
Officials from the Ministry of New and Renewable Energy said they would be making an assessment of renewable energy potential of countries in the region. NEW DELHI: India is drawing up plans to link its electricity grid with Gulf countries to the west and South East Asian nations on the other side in order to […]
Vietnam govt says needs $133.3 bln for power projects by 2030
Of the total, $96 billion is needed to build new power plants and $37.3 billion to expand its power grid, the government said in a statement on its website HANOI: Vietnam will need to invest up to $133.3 billion in new power plants and transmission networks over the next decade to meet the country’s rising […]
HCM City to connect all rooftop solar systems to power grid
The Ho Chi Minh City Power Corporation plans to soon connect all rooftop solar power to the electricity grid. HCM City : The Ho Chi Minh City Power Corporation plans to soon connect all rooftop solar power to the electricity grid. Bui Trung Kien, its deputy general director, said that to incentivise individuals and commercial […]