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PowerGrid Corporation, which is the Central Transmission Utility (CTU) will soon raise Rs 3,000 crore through private placement of bonds.
This is the first tranche of the Rs 10,000 crore to be raised through private placement of bonds in 2014-15. The proceeds will be used to part fianance the capex of Rs 22,450 crore planned during the current fiscal.
PowerGrid Corporation official told Business Standard, ''The company had made capex of Rs 22,324 crore in 2013-14 of which Rs 10,000 crore raised through private placement of bonds and the balance through internal accruals and loans already mobilized through multilateral and domestic institutions. Similarly, nearly Rs 10,000 crore will be raised through private placement of bonds during the current fiscal.''
He informed that PowerGrid Corporation has proposed an investment of Rs 1,10,000 crore during the 12th five year plan for the development of inter state transmission system. The company has invested Rs 22,337 crore in 2012-13, Rs 22,324 crore in 2013-14.
During 2014-15, the company wil invest Rs 22,450 crore, Rs 22,500 crore in 2015-16 and Rs 22,500 crore in 2016-17. At present, PowerGrid Corporation is operating more than 1,09,000 ckt km of transmission lines along with 186 sub stations and transformation capacity of about 2,13,000 MVA.
The official made it clear that PowerGrid Corporation has no fresh plans to mobilize loans from World Bank and Asian Development Bank. He added the company will use whatever it has already mobilized in the past.
Further, PowerGrid Corporation has been roped in by NTPC to lay transmission lines for the evacuation of power from the proposed 1,000 MW solar power project at Kadiri, in Anantpur district, Andhra Pradesh.
The official informed that the transmission lines will be laid between Kadiri and Kadapa (formerly known as Cuddapah). ''PowerGrid Corporation will start the work in next 15 days and complete it in one year,'' the official added.
This apart, the official said Rs 11,000 crore 800Kv high voltage direct current (HVDC) system between Biswanath Chariali in Assam (North-eastern Region) to Agra in Uttar Pradesh (Northern Region) will be operational by the 4th quarter of the current fiscal.
The HVDC system known as transmission highway will pave way for the transfer of power from the electricity energy rich north east to north and western regions.
