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.
