Centre boosts Powergrid’s equity threshold

The Union government has enhanced transmission service provider Powergrid’s equity investment ceiling to Rs 7,500 crore per subsidiary from the current threshold of Rs 5,000 crore per subsidiary, while retaining the existing cap of 15 per cent of the company's net worth.

Listen to this article

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the enhanced delegation to Powergrid under the extant guidelines of the Department of Public Enterprises (DPE) on delegation of powers applicable to Maharatna Central Public Sector Enterprises (CPSEs).

The approval will enable Powergrid to expand its investment in its core business and support the evacuation of renewable energy capacity, helping achieve the target of 500 GW from non-fossil-based sources.

Powergrid can now participate in the bids for capital-intensive transmission projects, such as Ultra High Voltage Alternating Current (UHVAC) and High Voltage Direct Current (HVDC) transmission networks. Additionally, it will broaden competition in the Tariff Based Competitive Bidding (TBCB) for selection of bidders for critical transmission projects. This ensures better price discovery, and ultimately lead to the availability of affordable and clean energy for consumers, an official statement from the government said.

Latest

Kobelco launches three new excavators

The company unveiled the SK210, SK215LC and SK230XDLC at...

India, Poland eye doubling bilateral trade

Both leaders set the target of doubling bilateral trade...

Shift Towards Engineering Ownership

The recent U.S. suspension of several major Indian technology...

Navitas Secures Up to USD 20 Mln Growth Capital

The investment is a part of responsAbility’s Asia Climate...

Newsletter

Don't miss

Kobelco launches three new excavators

The company unveiled the SK210, SK215LC and SK230XDLC at...

India, Poland eye doubling bilateral trade

Both leaders set the target of doubling bilateral trade...

Shift Towards Engineering Ownership

The recent U.S. suspension of several major Indian technology...

Navitas Secures Up to USD 20 Mln Growth Capital

The investment is a part of responsAbility’s Asia Climate...

Balkrishna Industries, Pirelli in pact for tyre production

India is today one of the most attractive automotive...

Kobelco launches three new excavators

The company unveiled the SK210, SK215LC and SK230XDLC at its Sri City manufacturing facility. The new models combine Japanese technology with locally sourced components,...

India, Poland eye doubling bilateral trade

Both leaders set the target of doubling bilateral trade by 2030. Modi invited Polish companies to expand their investments and operations in India and to...

Shift Towards Engineering Ownership

The recent U.S. suspension of several major Indian technology companies, including TCS, Infosys, Wipro and HCLTech, from the Permanent Labor Certification process has renewed...