Cabinet Increases POWERGRID's Equity Investment Limit to Rs 7,500 Crore per Subsidiary
The Cabinet Committee on Economic Affairs approved an increase in Power Grid Corporation of India Limited's equity investment limit from Rs 5,000 crore to Rs 7,500 crore per subsidiary. This change aims to enhance POWERGRID's investment in renewable energy projects and improve participation in capital-intensive transmission projects, ensuring affordable clean energy for consumers.
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The Cabinet Committee on Economic Affairs has approved raising Power Grid Corporation of India Limited's permissible equity investment limit from Rs 5,000 crore to Rs 7,500 crore per subsidiary, while maintaining a cap of 15% of the company's net worth. This decision will enable POWERGRID to invest more in its core business and support the evacuation of renewable energy resources, contributing to the goal of 500 GW from non-fossil sources. POWERGRID is now able to bid for capital-intensive projects like UHVAC and HVDC transmission systems and will enhance competition in Tariff-Based Competitive Bidding for critical projects, promoting better price discovery and affordable clean energy.
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