Power Grid Corporation of India said that its board has approved an investment proposal of Rs 330.61 crore for transmission system for evacuation of power from renewable energy zones (REZ) in Rajasthan.
In a regulatory filing, the power transmission company said, Committee of directors on investment on projects has accorded investment approval for transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part-J at an estimated cost of Rs 330.61 crore.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. As of 30 June 2022, the Government of India owned a 51.34% stake in the company.
The company's consolidated net profit rose 8.1% to Rs 3,650.16 crore on 8.6% increase in net sales to Rs 11,150.57 crore in Q2 FY23 over Q2 FY22.
Shares of Power Grid Corporation of India were down 0.43% to Rs 218.10 on the BSE.
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