Power Grid Corporation of India Limited (POWERGRID) has taken a significant step towards enhancing the power infrastructure in the North-Eastern region of India. The company's Committee of Directors on Investment on Projects has approved the implementation of the North-Eastern Region Expansion Scheme-XXIII (NERES-XXIII) at an estimated cost of ₹209.38 crore.

Project Details

The NERES-XXIII project is set to bolster the power transmission capabilities in the North-Eastern part of the country. Key aspects of the project include:

• Estimated Cost: ₹209.38 crore
• Project Duration: 30 months from the date of project allocation

Strategic Importance

This expansion scheme is part of POWERGRID's ongoing efforts to strengthen and expand the power transmission network in the North-Eastern region. The investment in this project underscores the company's commitment to improving power infrastructure and supporting the growing energy needs of the area.

Corporate Governance

The approval of the NERES-XXIII project coincided with POWERGRID's 36th Annual General Meeting (AGM). The AGM, conducted through video conferencing, addressed various corporate matters, including:

• Adoption of financial statements
• Confirmation of interim dividends and declaration of final dividend
• Appointment and reappointment of directors
• Authorization for fixing remuneration of statutory auditors
• Approval of enhanced borrowing limits

Financial Implications

While the specific financial impact of the NERES-XXIII project was not disclosed, the approval of enhanced borrowing limits during the AGM suggests that POWERGRID is positioning itself for continued investment in infrastructure projects. The company received approval to:

• Increase the borrowing limit from ₹16,000.00 crore to ₹25,000.00 crore
• Raise funds up to ₹30,000.00 crore

These financial decisions indicate POWERGRID's robust plans for future expansion and development of power transmission infrastructure across India.

Conclusion

The approval of the North-Eastern Region Expansion Scheme-XXIII represents POWERGRID's ongoing commitment to enhancing India's power transmission capabilities. As the project progresses, it is expected to play a crucial role in meeting the increasing energy demands of the North-Eastern region and contributing to the overall development of the area's power infrastructure.

Power Grid Corporation of India Ltd. (POWERGRID) announced a significant milestone in its expansion efforts, as its wholly owned subsidiary, POWERGRID KPS3 Transmission Limited, successfully commissioned the Khavda Pooling Station-3 (KPS3) project in the Khavda Renewable Energy (RE) park.

Project Details

The KPS3 project, secured through a Tariff Based Competitive Bidding process, achieved commercial operation on August 4. The company received the official Notification for Commercial Operation (DOCO) via email on August 18, marking the formal commencement of its operations.

Strategic Importance

The Khavda Pooling Station-3 is part of the larger Inter-State Transmission System initiative, specifically aimed at establishing crucial infrastructure within the Khavda RE park. This project underscores POWERGRID's commitment to enhancing India's power transmission capabilities and supporting the growth of renewable energy infrastructure.

Corporate Disclosure

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, POWERGRID promptly informed the National Stock Exchange of India Limited and BSE Limited about this development. The disclosure, signed by Company Secretary & Compliance Officer Satyaprakash Dash, highlights the company's adherence to regulatory transparency.

Implications for POWERGRID

The successful commissioning of the KPS3 project by its subsidiary reinforces POWERGRID's position as a key player in India's power transmission sector. It demonstrates the company's ability to execute complex projects efficiently, potentially strengthening its competitive edge in future bids for similar infrastructure developments.

This achievement aligns with India's broader goals of expanding its renewable energy capacity and improving power distribution across the country. As the demand for robust transmission infrastructure grows alongside the renewable energy sector, POWERGRID's strategic investments in such projects are likely to contribute positively to its long-term growth prospects.