PowerGrid to line up Rs 1 lakh cr to raise capacity

State-run PowerGrid Corporation has firmed up an investment plan of Rs 1 lakh crore to increase the inter regional transmission capacity to 65,000 Mw during 12th Five-Year Plan from the 28,000 Mw in 11th Plan.

PowerGrid Corporation Chairman and Managing Director R N Nayak said the company’s capex till October stood at Rs 43,001 crore against its target of Rs 55,000 crore for 11th Plan. The company would achieve the investment target of Rs 55,000 crore by end of March 2012. Against the original target of completing grid of 37,000 Mw in 11th Plan, it would be able to lay 28,000 Mw by end of March 2012. This was due to slippage of certain power projects that are now carried forward in the 12th Plan.

For the current fiscal, PowerGrid has planned capex of Rs 18,000 crore of which 30% would come from internal accruals, while Rs 12,000 crore to be raised through multiple instruments. Of the Rs 12,000 crore, the company has so far raised Rs 7,000 crore comprising external commercial borrowings of Rs 2,000 crore and bonds of Rs 5,000 crore.

The company has completed transmission system associated with the Mundra ultra-mega power project on September 28, which is ahead of schedule. It has submitted bids for associated transmission lines for generation projects being set up by Reliance and IL&FS.