Power Grid gets nod for four investment proposals worth Rs 1776.72 crore

Power Grid Corporation of India (PGCIL) has received an approval for four investment proposals worth Rs 1776.72 crore. The board of directors at its meeting held on May 13, 2014 has approved for the same. The first investment approval is for Eastern Region Strengthening Scheme-XII (ERSS-XII) at an estimated cost of Rs 522.29 crore, with commissioning schedule of 30 months from the date of investment approval. The second approval is for Eastern Region Strengthening Scheme-XIII (ERSS-XIII) at an estimated cost of Rs 121.38 crore, with commissioning schedule of 30 months from the date of investment approval. Besides, the third proposal is for Static VAR Compensators (SVCs) in Northern Region at an estimated cost of Rs 829.98 crore, with commissioning schedule of 27 months from the date of investment approval. Further, the final approval is for installation of Bus Reactor and ICT in Western Region at an estimated cost of Rs 303.07 crore, with commissioning schedule of 26 months progressively from the date of investment approval. PGCIL is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems with inter-regional power transfer capacity of about 20,800 MW and wheels nearly 45% of total power generated across India.