Power Grid Corporation of India Ltd (PGCIL) has been the best performer amongst Central power PSUs, in terms of achievement of capex targets for FY22, a government release said.
According to the release, PGCIL has achieved 90.6 per cent of the capex targeted for the full year FY22, in the first nine months (April to December) of the year.
Closely following PGCIL was SJVN Ltd that had a similar achievement of 90.19 per cent. NTPC with 86.5 per cent and THDC Ltd with 85.38 per cent were other notable performers.
Without disclosing the individual figures, the release said that Central PSUs in the power ministry collectively incurred capital expenditure of Rs.40,395.34 crore during the first nine months (April to December) of FY22. With this, power ministry CPUs have achieved 80 per cent of their combined FY22 capex target of Rs.50,690.52 crore.
The release also pointed out that the capex incurred in the April-December period of FY22 was 47 per cent higher than the corresponding level of FY21.
Also read: Power PSUs Meet 63.4 Per Cent Of FY22 Capex Target, So Far
Performance of PGCIL
According to information available independently, PGCIL has set a FY22 capex target of Rs.7,500 crore. As of November 10, 2021, over 60 per cent of the target was met. Given that PGCIL has met 90.6 per cent of its annual capex target as of December 31, 2021, the Central PSU undertook significant capex – estimated at around Rs.2,300 crore—during November and December 2021, alone.
PGCIL also witnessed a significantly high consolidated capitalization of Rs.13,275 crore during the first half (H1, April to September) of FY22. Capitalization refers to commissioning of projects thereby turning them into commercial assets. [Figures for the April-December period of FY22 are not yet available.]
In H1 of FY22, PGCIL commissioned 2,100 ckm of transmission lines and 14,000 MVA of transformation (substation) capacity. The Central PSU added 5,700 mw to India’s total interregional transfer capacity in the same period.
