POWERGRID Signs MoU With Ministry of Power Detailing Targets For Year 2020-21

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Power Grid Corporation of India Ltd. (POWERGRID) has signed Memorandum of Understanding (MoU) with Ministry of Power, Govt. of India on September 29, 2020. The MoU has been signed by Sanjiv Nandan Sahai , Secretary (Power), Government of India and K. Sreekant, Chairman & Managing Director, POWERGRID in the presence of senior officials from MOP and POWERGRID.

The MoU includes targets related to various parameters such as Financial, Physical, Project execution, etc. to be achieved by POWERGRID during the FY 2020-21. 

POWERGRID, a Maharatna Company and the Central Transmission Utility (CTU) of the country has been consistently receiving the highest rating under MoU since the signing of the first MoU for FY 1993-94. As on March 31, 2020, the company owns & operates over 163,282 km of transmission lines, 248 EHV sub-stations with a transformation capacity of more than 4,09,899 MVA.

Recently, Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI and the ‘Central Transmission Utility (CTU)’ of the country, has posted a Profit After Tax of ₹2,048 crore and Total Income of ₹9,817 crore on consolidated basis for Q1FY21. On standalone basis, the Company posted Profit After Tax and Total Income of ₹1,979 crore and ₹9,620 crore respectively for Q1FY21.

As per a statement issued by POWERGRID, for the quarter, the Company incurred a Capital Expenditure of about ₹1,906 crore and capitalized assets worth ₹1,184 crore (excluding FERV) on consolidated basis. POWERGRID’s Gross Fixed Assets on a consolidated basis stood at about ₹2,28,856 crore as on June 30, 2020.

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