Power Grid Corporation of India Limited (POWERGRID) has entered into a Term Loan facility agreement for Rs.3270Crore with ICICI Bank Ltd. today. POWERGRID has an ambitious investment plan and has budgeted Capital expenditure (CAPEX) including investment in joint venture and subsidiaries of more than Rs.25000 Crore during the current financial Year 2017-18.
During the current fiscal POWERGRID has mobilized Rs.6130 Crore through issue of bonds under private placement, term loans from domestic commercial banks and has also entered into two long term Loan agreements with Asian Development Bank (ADB) for US$725 Million for financing CAPEX.
Major transmission lines under execution by POWERGERID are HVDC Bipole link between Western Region and Southern Region (Raigarh-Pugalur 6000MW HVDC System), POWERGRID Southern Interconnector Transmission System, Green energy Corridor ISTS and POWERGRID Warora Tran
POWERGRID is a “Navaratna” Central Public Sector Enterprise designated as the Central Transmission Utility (CTU) of India. It is India’s largest Electric Power Transmission Utility and has been consistently rated “Excellent” under Memorandum of Understanding with Ministry of Power since 1993-94.
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