The project includes the construction of a 765 kV D/c line. (representative)
New Delhi:
State-owned Power Grid Corporation of India said on Monday that its board has agreed to raise Rs 900 crore by issuing non-convertible bonds on a private placement basis.
“The Bonds Board Committee, at its meeting today i.e. March 9, 2023, approved the increase of unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXI (71 st) issue 2022-23 on private placement up to Rs 900 crore by cash flow securitization of 10 years i.e. till FY 2032-33 of its operational SPV namely ‘POWERGRID Mithilanchal Transmission Ltd (PMTL)’,” according to a BSE filing.
The base number size is Rs 300 crore with green shoe option of Rs 600 crore.
The issue is reported on NSE and/or BSE Ltd.
In a separate filing, the company said: “Power Grid Corporation of India Ltd has been declared a successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for a transmission system reinforcement scheme for the evacuation of power from solar energy zones in Rajasthan ( 8.1 GW) under Phase-II Part-E’ on Build, Own, Operate and Maintain (BOOM) basis.The Letter of Intent (LoI) was received by Power Grid Corporation of India Ltd on 7 March 2023.
The scope of the project includes construction of a 765 kV D/c transmission line along with associated line sections in Rajasthan, it said.
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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