Powergrid to transfer assets worth Rs 75 billion to PGInvIT in 2023

Power Grid Corporation of India Limited (Powergrid) is planning to transfer transmission assets worth Rs 75 billion to the PowerGrid infrastructure investment trust (PGInvIT) in 2022-23.

The company has identified large assets including Power Grid Southern Interconnector Transmission System project and the Nagapattinam Madhugiri Transmission Project, valued at Rs 50 billion for the transfer, along with its 26 per cent stake in one of the existing special purpose vehicles (SPV), Powergrid Vizag Transmission. The company is also open to evaluate transfer of cost-plus or the regulated tariff mechanism (RTM) projects to the InvIT as part of central government’s Rs 42.5 billion National Monetisation Pipeline (NMP) programme.