Power Grid Corporation Of India Ltd.

Power Grid Corporation of India has received its board’s approval to launch $1 billion medium term note (MTN) programme to mobilise funds from international markets, and issue of rupee denominated Masala bond to raise up to Rs 5000 crore. The board of directors of the company in its meeting held on May 11, 2017 also approved an investment of Rs 186.17 crore for a transmission system to evacuate power from NLC power plant of 1,000 MW at Neyveli in Tamil Nadu. The board also approved an investment of Rs 175.64 crore for setting up transmission network for Ultra Mega Solar Park (700 MW) at Banaskantha in Gujarat.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.