, India

India's Power Grid Corporation eyes spending $3.87b for transmission upgrades

$2.71b of this is to be raised via debt.

The Power Grid Corporation (PGCIL), a state run transmission and distribution company, has planned a capital expenditure of Rs.250 billion (~$3.87 billion) for FY2017-18, according to Mercom Capital Group. 

The company has reported a 22 percent rise in standalone net profit to Rs.19.16 billion (~$297 million) for the quarter ended March 31. Revenue from operations went up 17 percent to Rs 67.12 billion (~$1.04 billion).

Here's more from Mercom Capital Group:

The company has an existing pipeline of projects worth Rs.1.3 trillion (~$20.1 billion) on hand which it is expected to execute over the next 3-4 years. The Rs 200 billion (~$3.1 billion) worth of solar and wind projects which are likely to come up, is also a growth opportunity. Of the planned Rs.250 billion (~$3.87 Billion) capex for FY2017-18, Rs.175 billion (~$2.71 billion) is going to be raised via debt.

The company will raise the funds through issue of bonds both domestic and international and also through bilateral and multilateral funding sources and forex borrowings. Power Grid is also planning to raise money via masala bonds. Currently, Power Grid is operating about 139,700 ckms of transmission lines along with 220 sub-stations with transformation capacity of over 292,500 MVA.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Why Singapore could be the ‘tipping point’ for ASEAN renewable and grid development
Heavily reliant on gas, the country is still on track for its 2035 net-zero target, but could be more ambitious to hit its 2050 goal by 2045.
Power Utility
Will the government pay for coal power exit in Vietnam?
The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.