Power Grid sets capex target of 25,000 crore for 2018-19

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NEW DELHI: Power Grid Corporation of India Limited (POWERGRID) has signed Memorandum of Understanding for the year 2018-19 with Ministry of Power, Government of India. The MoU was signed by Ajay Kumar Bhalla, Secretary, Ministry of Power, Government of India and I S Jha, CMD, POWERGRID in presence of senior officials from Ministry and POWERGRID. The MoU includes various targets to be achieved by POWERGRID during FY 2018-19. Capex target for the year has been set as Rs. 25,000 crore. Other targets in the MoU inter-alia include parameters related to human resources, project management, R&D and innovation and other efficiency and operational performance parameters. OWERGRID, a Navratna CPSE and the Central Transmission Utility (CTU) of the country, has been consistently receiving highest rating i.e. “Excellent” under since signing of the first MoU in 1993-94. As on March 31, 2018, the company owns & operates over 148,800 ckt. km. of transmission lines, 236 EHV substations with transformation capacity of more than 322,000 MVA. Availability of this gigantic transmission network has been consistently maintained over 99.5%. –PIB

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