PGCIL board approves $90 M investment
India: The board of directors of Power Grid Corporation of India Ltd (PGCIL) has approved two investment proposals.
Image source: T&D India
India: The board of directors of Power Grid Corporation of India Ltd (PGCIL) has approved two investment proposals.
The investments entail capital expenditure of $90.5 M (Rs 678.29 crore).
In a stock exchange filing, PGCIL said that investment approval worth $42.5 M (Rs 318.12 crore) has been accorded for setting up the transmission system for evacuation of power from the Pakal Dul hydropower project in the UT of Jammu and Kashmir. This transmission system is scheduled to commission by April 2025, matching with the commissioning of the 1,000 MW Pakal Dul hydropower project.
The PGCIL board also approved investment worth $48 M (Rs 359.47 crore) for a transmission scheme associated with upcoming solar energy zones in Rajasthan. The project, officially termed as “Transmission System Strengthening Scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part G1,” is scheduled to commission by September 2023.
Source: T&D India
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