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BusinessPower Grid Corporation approves Rs. 12,000 crore bonds issue for grid fortification

Power Grid Corporation approves Rs. 12,000 crore bonds issue for grid fortification


In a move to bolster the nation's power transmission infrastructure, state-owned Power Grid Corporation approved fund mobilisation of Rs. 12,000 crore through bond issuances.

At its committee meeting held yesterday, the transmission major greenlit the proposal to raise resources in one or multiple tranches during the current fiscal year via unsecured, non-convertible, redeemable taxable bonds.

Power Grid owns and operates over 160,000 circuit km of transmission lines along with 260 substations, accounting for over four-fifths of inter-regional electricity exchanges across the country. The bulk transmission specialist plays a crucial role in ensuring seamless power flows across state boundaries.

The fresh capital will aid the company's ongoing efforts to establish stronger inter-links between regions and connect new generation projects under development, thereby enhancing grid reliability and resilience. It is also expanding its role in the renewable energy space by setting up green energy corridors.

Overall, the fund raising drive will helpPower Grid fortify infrastructure essential for power sector growth envisioned under various policy initiatives. With abundant technical expertise and financial strength, it remains at the forefront of building 's high-capacity transmission superhighway.

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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