Power Grid Corporation of India Limited’s (POWERGRID) board has approved raising up to Rs 50 billion through an unsecured rupee term loan or line of credit from Union Bank of India.
It has also approved an investment of Rs 2.34 billion for setting up a centralised security operations centre for substations at an estimated implementation period of 24 months from the date of Central Electricity Regulatory Commission approval. In addition, the board has accorded in-principle approval for divestment of the POWERGRID’s entire equity stake in Central Transmission Utility of India Limited to Grid Controller of India Limited and approved entry into a strategic alliance with Africa50 and Uganda Development Bank for development of a transmission project in Uganda under the independent power transmission model.