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IFC May Invest $400 MN in Power Grid Corporation

  • IFC may invest $400 Mn in Power Grid Corporation of India Limited, a national power transmission company of India responsible for planning, coordination and undertaking high voltage inter-state transmission in the country.Power Grid has undertake project to enhance electricity transmission infrastructure in India.The total project cost is estimated to be $2.3-3.5 bn over the next 12 months proposed to be 70% financed with debt and remaining from internal accruals.IFC will invest $400 Mn which constitutes 15% of project cost, while balance debt will be raised including from multilaterals namely World Bank and ADB, and through issuance of domestic bonds. Power Grid is expected to fund 70% of the projects' cost through debt while the remaining 30% will be from internal accruals.

Power Grid Corporation On BSE

  • The company plans to set up 9 high capacity power transmission corridors to enhance inter-regional transmission of power. Over the next five years, the company is expected to invest as much as R1 lakh crore in rolling out transmission corridors and strengthening its grids. PGCIL has already awarded contracts worth R55000Cr towards this, lending visibility to upcoming projects.

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