New Delhi, July 7: The board of PGCIL [Power Grid Corporation of India] has sanctioned Rs. 2,247 crore investments for Green Energy Corridor project part C.
State-owned Power Grid Corporation of India (PGCIL) said on Monday that, for the third part of the inter-state electricity transmission project the board directors of company have approved to spend Rs. 2,247.37 crore.
In a filling to the Bombay Stock Exchange, the company said that “ the board of directors of company attended a meeting which was held on 2nd July, 2015, at that time they all approved for the investment of Rs.2,247.37 crore for Green Energy Scheme (ISTS) Part-C, and scheduled the time to 36 months from the date of investment approval”.
PGCIL had started developing of Green Energy Corridors for clearing power which is generated from renewable energy sources. As part of this development programme, the company had approved investment of Rs. 1,479.30 crore for Green Energy Corridors: Inter-State Transmission Scheme Part A and Rs.3, 705.61 crore for Part B.
Now on Monday the company had approved Rs.2, 247.37 crore for same project Part C. The projects include both intra-State and inter-State transmission projects. PGCIL is implementing inter-state transmission part while the intra-state transmission is executed by corresponding states.
The project addresses the intermittency and variability aspects as well as grid incorporation issues of large-scale renewable energy generation with almost a percent to close at Rs 139.95 on BSE.