The power transmission company on Tuesday announced that its board has accorded investment approval for two projects aggregating to Rs 4,070.98 crore.
The company has received board approval for Eastern Region Expansion Scheme-XXIX (ERES-XXIX) at an estimated cost of Rs 524.04 crore scheduled to be commissioned by November 2025.
The subsequent project is a transmission system for Kurnool Wind Energy Zone/Solar Energy Zone (AP) - Part-A & Part-B at an estimated cost of Rs 3,546.94 crore scheduled to be commissioned by November 2024.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. As of 31 December 2022, the Government of India owned a 51.34% stake in the company.
The company's consolidated net profit rose 10.7% to Rs 3,645.34 crore on 7.8% increase in revenue from operations to Rs 11,261.78 crore in Q3 FY23 over Q3 FY22.
Shares of Power Grid Corporation of India rose 0.26% to Rs 227.65 on BSE.
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