Government asks Power Grid Corp to consider selling stakes in projects

Government asks Power Grid Corp to consider selling stakes in projects

Power Grid Corporation of India Ltd., a state-run electricity transmission company, should sell stakes in its projects to unlock capital for future expansion, according to the nation’s power ministry.

The company should cut its balance sheet size to half by selling stakes in projects, power minister Piyush Goyal said in New Delhi on Wednesday. It should consider an infrastructure investment trust, or InvIT model to monetize assets, he said. Selling stakes in projects will the company free-up capital and raise more debt for future projects at competitive rates, federal Power Secretary Pradeep Kumar Pujari said. Read More…

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