Power Grid Corporation of India Ltd (PGCIL) has accorded approval to investment of over Rs.2,000 crore, on various projects.
The total investment approved stood at Rs.2,202.30 crore. Of this, an amount of Rs.1,761.30 crore was approved by the PGCIL board of directors, while the remaining Rs.441 crore was approved by the “Committee of Directors on Investments on Projects”, PGCIL said in a stock exchange filing.
Approved by Board of Directors
The biggest investment approved, worth Rs.1,184.88 crore, was for the “Transmission strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW under Phase-II (Part B1)”. This overall scheme will have five components (denoted as Part A to Part E). These five components will be commissioned progressively from December 2021 to September 2022.
An investment of Rs.576.42 crore was approved for the “North Eastern Region Strengthening Scheme-XII (NERSS-XII)” at an estimated cost of Rs.576.42 crore to be commissioned progressively by March 2023.
RTM and TBCB: It may be noted that the transmission strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW under Phase-II is divided into several parts. Out of these parts, at least two – Part B1 (discussed above) and Part G1 – have been awarded to PGCIL on nomination basis. These schemes will be developed under the regulated tariff mechanism (RTM) route. It is also significant to note that five other components of the scheme — Part A, Part B, Part C, Part D and Part F – have been clinched by PGCIL under the tariff-based competitive bidding (TBCB) mechanism. (Read more)
Approved by Committee of Directors
The Committee of Directors on Investment on Projects approved three proposals worth Rs.441 crore, with the following details:
- Investment proposal for capital expenditure for procurement of telecom equipment for building an exclusive dedicated Telecom Network for NTAMC with an estimated cost of Rs.117.29 crore with commissioning schedule of 12 months from the date of award.
- Investment approval for transmission system for power evacuation from the 900-mw Arun-3 hydropower project in Nepal. The transmission scheme, costing Rs.179.29 crore, will cover the Indian portion of the Indo-Nepal transmission link. The Indian portion of the link will be commissioned progressively by April 2023, matching with commissioning of the hydropower project. The Arun-3 project is being implemented by SJVN Arun-3 Power Development Company Pvt Ltd (SAPDC), a single-shareholder private limited company incorporated in April 2013 under the “Nepalese Companies Act, 2063,” with SJVN Ltd as its sole shareholder.
- Investment approval for equity investment to pay off the state contribution of 5 per cent project cost to UTs of J&K and Ladakh and expenditure towards procurement of towers, poles and spares for the 220kV Srinagar-Leh transmission system, at an estimated cost of ₹144.42 crore with completion schedule of 18 months progressively from the date of Investment approval.
